Rubio in Bombay and Jamnagar to Sell
Venezuela Oil besides Advancing Trade Deal
The
trip offered a clear view of the Trump administration’s priorities in India, with
energy, and Venezuelan crude in particular, at the top.
·
Two-Day Visit: US Secretary of State Marco Rubio
concluded his India visit on 21 October 2026, focusing on energy, trade, defence,
technology and bilateral relations. He visited Mumbai and Jamnagar, bypassing the
customary diplomatic stop in New Delhi.
·
Meetings with Indian Business Leaders: Rubio met
Tata Group chairman N. Chandrasekaran, Adani Group chairman Gautam Adani and Reliance
Industries chairman Mukesh Ambani. His Jamnagar visit included Reliance’s refinery
complex, new energy giga-factories and data centres.
·
Venezuelan Oil at the Centre: Washington
wants India to increase purchases of Venezuelan crude following the US intervention
in Venezuela. The Trump administration is seeking export markets for Venezuelan
oil to support the country’s oil-dependent economy and the US-backed government.
·
Reliance’s Major Role: According
to analytics firm Kpler, Reliance accounted for an estimated
76% of India’s Venezuelan crude oil imports in September 2026. Rubio highlighted
India’s position as a global refining power and discussed Venezuelan oil supplies
with Reliance.
·
Tribute to 26/11 Victims: Rubio began
his Mumbai visit by laying a wreath at the memorial for the victims of the 26 November
2008 Mumbai terror attacks, which also killed six Americans.
·
Russian Oil and Tariff Relief: Rubio said
that maintaining strong relations with India was one factor behind President Trump’s
recent decision to waive tariffs targeting countries purchasing Russian energy.
He acknowledged that India would find it difficult to reduce Russian crude imports
significantly in the short term.
·
Condemnation of Anti-Indian Sentiment: Rubio attributed
rising anti-Indian hatred in the US to ignorance and hatred among small sections
of American society. He stressed that senior political leaders should refrain from
encouraging such sentiments.
·
India-US Trade Deal Nearing Completion: Rubio said
the two countries were “very, very close” to concluding the long-awaited
trade agreement, with only a few outstanding details remaining to be resolved.
Key Takeaway
Energy security,
particularly Indian purchases of Venezuelan crude through Reliance’s Jamnagar refinery,
emerged as a major US priority. The visit also signalled progress towards an India-US trade deal and Washington’s
recognition of India’s constraints in reducing Russian oil imports quickly.
US Secretary of State Marco Rubio on Wednesday
(21.10.2026) concluded a two-day India visit that departed from diplomatic convention,
bypassing New Delhi for Mumbai and the Reliance Industries’ vast refinery complex
in Jamnagar. The trip, which came as Washington and New Delhi edge closer to a long-awaited
trade deal, offered a clear view of the Trump administration’s priorities in India,
with energy, and Venezuelan crude in particular, at the top.
Tribute
and talks in Mumbai
Rubio, who arrived in Mumbai on Tuesday,
began his visit by laying a wreath at a memorial for the victims of the 26/11 terror
attacks, in which six Americans were also killed. He then met External Affairs Minister
S Jaishankar for a meeting that largely focused on trade, energy, defence, technology
and people-to-people relations.
On Wednesday, the US Secretary of State focused
on meetings with India’s largest business houses, meeting Tata chief N Chandrasekaran
and Adani Group chairman Gautam Adani before heading to Jamnagar for a tour with
Reliance chairman Mukesh Ambani. Reliance said the visit centred
on the firm’s massive refinery in the city, upcoming new energy giga-factories and
data centres.
Mumbai
over Delhi
Rubio’s decision to visit Mumbai and skip
Delhi, the usual stop for visiting dignitaries, drew much attention. But the focus
on Mumbai, and particularly his closely watched meeting with Reliance Industries,
said a lot about his priorities.
Washington has made clear that it wants India
to purchase more energy from Venezuela in the aftermath of an American military
operation that toppled President Nicolas Maduro in January this year. Over the last
year, the Trump administration has played an increasingly large role in running
Venezuela’s highly lucrative oil sector. The government even brokered an agreement
giving it a major ownership stake in NABEP, an energy firm that has been handed
control of oil fields holding 65 billion barrels of proven reserves.
Given Venezuela’s staggering overdependence
on oil export revenues and Washington’s need to shore up the US-backed government
currently in power, the Trump administration has been looking for major export markets
for Venezuelan energy. That is where Reliance, which runs the world’s largest refinery
complex in Jamnagar, fits into Rubio and the administration’s calculations.
India has ramped up crude oil imports from
Venezuela in recent months, with much of the energy heading to Reliance’s refinery
in Jamnagar. According to analytics firm Kpler, Reliance
accounted for an estimated 76% of India’s crude oil imports from Venezuela in September
this year. Rubio said he would discuss Venezuela with Reliance and even spoke of
India’s position as a “refining superpower”.
Confronting
anti-India sentiment
Rubio also made notable remarks on key challenges
in the US-India relationship. He became one of the few senior Trump administration
officials to directly address concerns over rising anti-Indian hatred, attributing
it to “ignorance” and “hatred” among small groups in American society. Besides,
he stressed the importance of senior leaders refraining from encouraging such sentiment.
The US Secretary of State’s remarks on India’s
Russian oil purchases were also significant. He said that maintaining a strong relationship
with India was one factor behind President Trump’s recent decision to waive tariffs
on India and other countries for buying Russian energy.
Last week, Trump announced that he would
waive tariffs that could have targeted India and four nations for purchasing Russian
oil and gas, just a month after the House of Representatives passed an act giving
him the power to levy up to 100% tariffs on the top five purchasers of Russian energy.
Rubio also acknowledged that it would be
difficult for India to move away from Russian crude in a short time. This suggests
that at least some of India’s messaging about its energy relationship with Russia
is getting through to senior decision makers.
On the trade deal, Rubio asserted the two
sides are “very, very close” with just a few remaining details left to be ironed
out.