US-Venezuela Tensions: Oil Market Unfazed Despite Diplomatic Standoff

Former Indian diplomats criticize US actions in Venezuela, describing them as violations of international law. Despite potential geopolitical concerns, experts agree that the US-led operations are unlikely to disrupt the global oil market. The arrest of Venezuela's ex-leader highlights tensions over control of vital oil reserves.

Former Chief Economic Adviser to the Government of India, Arvind Subramanian, has downplayed the impact of recent US military operations in Venezuela on the global oil market. Speaking Monday, Subramanian reiterated the belief that the moves would not significantly alter oil market dynamics.

Dilip Sinha, former Indian ambassador to the UN in Geneva, condemned the US's actions, labeling them a breach of international law and an overreach of authority. Sinha criticized the military operation as an 'abduction' rather than an authorized arrest, noting the extraction involved former Venezuelan dictator Nicolas Maduro.

Sinha also pointed to economic motives, suggesting the operation was influenced by Venezuela's rich oil reserves. As President Trump outlined plans for US oil firms to revamp Venezuela's oil infrastructure, tensions over resource control remain high, despite assurances of future oil sales abroad.

(With inputs from agencies.)