08:50 GMT +322 March 2019
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    Oil pumps are seen in Lake Maracaibo, in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 20, 2015

    India Ignores US Warning, Says It Will Continue Buying Venezuelan Oil

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    US National Security Adviser John Bolton has warned other countries not to buy Venezuelan oil, saying that nations and firms that support “President Maduro’s theft will not be forgotten”.

    Following a US warning to countries not to import oil from Venezuela amid the current political turmoil, India's Ministry of External Affairs (MEA) has issued a strong statement signalling its dismay over the US pressure tactic.

    READ MORE: Venezuelan Opposition, US Backers Hoped to Unseat Maduro in 24 Hours — Reports

    "Venezuela is the chair of OPEC and GECF. We don't have any barter system with Venezuela; commercial considerations and related factors will determine the value of trade which we have with any country," Ministry of External Affairs Spokesman Raveesh Kumar said while briefing the press on Thursday.  

    Earlier, US National Security Adviser John Bolton had warned that "nations and firms that support Venezuelan President Nicolas Maduro's theft of Venezuelan resources will not be forgotten".  

    Venezuela is the third largest supplier of oil to India and both the countries have so far maintained cordial relations.

    READ MORE: Russia Suspects Venezuela Coup by Military Means Becoming US Priority

    Venezuela is reeling from a political crisis amid the opposition-led legislature's refusal to recognise last year's re-election of President Nicolás Maduro.

    While India is of the view that it is for the people of Venezuela to find a solution to the ongoing political crisis through constructive dialogue and discussion without resorting to violence, the US and its allies have backed Juan Guaido, who recently declared himself the President of Venezuela, by describing the polls that elected Nicolas Maduro as President as "invalid".

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    Tags:
    political chaos, oil, import, OPEC, GECF, John Bolton, India, United States, Venezuela
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