Sun Jan 04 13:41:56 UTC 2026: Here’s a summary of the text and a rewrite as a news article:

Summary:

American forces captured Venezuelan President Nicolas Maduro and his wife on January 4, 2026, and took them to the U.S. to face charges related to narco-terrorism and drug trafficking. Despite this, India’s economic ties with Venezuela are so diminished due to existing U.S. sanctions that the event is expected to have a negligible impact on India’s economy or energy security. Trade between the two nations has dwindled significantly in recent years, particularly crude oil imports, which have plummeted.

News Article:

India Unlikely to Feel Economic Ripple Effects from Maduro’s Capture

New Delhi – January 4, 2026 – The dramatic capture of Venezuelan President Nicolas Maduro and his wife by American forces on Sunday is unlikely to significantly impact India’s economy, according to the Global Trade Research Initiative (GTRI). Maduro and his wife were taken to the U.S. to face charges including narco-terrorism and drug trafficking.

While the situation in Venezuela is unfolding rapidly, trade between India and Venezuela has already been severely curtailed due to long-standing U.S. sanctions. GTRI founder Ajay Srivastava noted that crude oil imports from Venezuela dropped by 81.3% in FY2025. Overall bilateral trade between the two countries is now considered marginal.

“India faces negligible impact, as trade with Venezuela has collapsed under sanctions,” Srivastava stated.

India was once a significant importer of Venezuelan crude oil, but engagement has weakened considerably since 2019 when sanctions forced India to reduce its oil imports and commercial activity to avoid being penalized with secondary sanctions.

In FY2025, India imported $364.5 million worth of goods from Venezuela, with $255.3 million attributed to crude oil. This is a steep decline from $1.4 billion in crude imports in FY2024. Exports from India to Venezuela are at $95.3 million, led by pharmaceutical products.

Despite Venezuela holding a substantial portion of the world’s oil reserves, the GTRI maintains that the low trade volumes, existing sanctions, and geographical distance mean that current events will not have a meaningful effect on India’s economy or energy security.

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