Trump’s Iran oil sanctions, 100% Russian crude tariff threat: Can Venezuela fill the gap for India?

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Trump’s Iran oil sanctions, 100% Russian crude tariff threat: Can Venezuela fill the gap for India?

August 25, 2026

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What happens when the world stops buying Iran oil due to the threat of secondary sanctions? Where will India procure crude from if it faces tariffs of up to 100% for its Russian crude oil imports? The Middle East crisis has pushed Russia’s share in India’s crude oil basket to over 50%.

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