Rubio is pushing India to buy more US and Venezuelan oil

US Secretary of State Marco Rubio has described India as a “refining powerhouse” and said he discussed possible Indian oil purchases from the US during talks with External Affairs Minister S Jaishankar on Tuesday (Oct 20, 2026). He will also discuss a plan to further refine Venezuelan crude at Mukesh Ambani-owned Reliance Energy’s Jamnagar plant, he added.

Mr Rubio added that India and the US are “very, very close” to concluding negotiations on a much-delayed free trade agreement (FTA).

Energy ties, trade and connectivity were on the agenda when Mr Jaishankar hosted Mr Rubio and UAE Foreign Minister Abdullah Bin Zayed in Mumbai. The foreign minister met each of his counterparts separately and then met both together, indicating that trilateral cooperation on these issues was also discussed.

Trilateral cooperation

Mr. Jaishankar called the trilateral meeting “a useful exchange of views on energy, connectivity and contemporary developments”.

“The US, India and the UAE have real opportunities to develop cooperation in energy, trade, technology and regional connectivity,” US Ambassador to India Sergio Gor said, sharing a photo of the three foreign ministers together in Mumbai.

However, the data made no mention of plans for the “I2U2” that the three countries formed with Israel in 2021, or the India-Middle East Economic Corridor (IMEC), which was announced in 2023.

“Very, very close to FTA”

Mr. Rubio’s visit comes at a time of strain in Indo-US relations over several issues, including recent US moves to freeze H-1B visas, threatened sanctions (which have since been shelved) over India’s imports of Russian oil and delayed FTA talks.

“We’re very, very close. I’d say we’re as close as you can get without doing a (free trade) deal. I think there’s a small number of things left to be done, so I think that’s going to happen soon,” Mr. Rubio said, adding that the State Department was closely involved in the talks between trade officials.

The India-US-UAE trilateral meeting, which was not previously announced by the MEA, comes at a time when the UAE is also facing many challenges in energy exports and trade due to the US war in Iran and Tehran’s blockade of the Strait of Hormuz. Mr Jaishankar met Mr Abdullah in Mumbai just four days after he traveled to Abu Dhabi, where the two foreign ministers also spent time together.

“Strong strategic partner”

This is Mr. Rubio’s second visit to India in five months after his last visit to Delhi for the Quad Foreign Ministers’ meeting in May this year. This time, Mr. Rubio is focusing on the economic side of the bilateral relationship, officials said.

There have been questions about Mr. Rubio’s planned two-day visit to Jamnagar, as well as criticism that he “summoned” Mr. Jaishankar to Mumbai instead of meeting him in Delhi. Speaking to reporters at the Taj Mahal Palace Hotel in Mumbai, where he and Mr. Jaishankar paid tribute to those killed in the 11/26 terror attacks, Mr. Rubio fielded questions about the purpose of his visit and why he had returned to India so soon.

“First of all, the Indian foreign minister (Mr. Jaishankar) has been to the United States four times this year,” Mr. Rubio explained, adding that as the most populous country and the largest democracy that is a trade and defense partner, a “strong strategic partner” and a member of the Quad, India is an important country for interaction.

Revival of the Venezuelan connection Reliance

He explained that his visit to Jamnagar, where he will see the Reliance Energy Refinery and the Vantara Animal Facility, was to discuss additional Venezuelan crude being imported into the refinery. “We have spoken to them (Reliance Energy) about this in the past. We will go and see what the delay is and what the opportunities are. We will see how the conversation develops. This is a company that has had a presence in Venezuela in the past and whose refining capabilities are significant,” he added.

When asked about India’s purchase of Russian oil, which accounts for about 45% to 50% of its income, Mr Rubio said he was “happy” to see that India had made “substantial progress” in diversifying its oil purchases, adding that the US and Venezuela could be sources of more energy inputs to India. Last month, oil from Russia, the US and Venezuela accounted for two-thirds of India’s oil imports.

(with contributions from Vinaya Deshpande in Mumbai)

Published – 20 Oct 2026 16:57 IST