New Delhi, Jan. 5 -- The American intervention in Venezuela has posed a wild card for New Delhi, which has significant energy investments and millions of dollars in unpaid dividends stuck in the South American country.

While a potential easing of sanctions after the US intervention could eventually restore India's access to the world's largest oil reserves and $600 million in unpaid dividends, experts warn that immediate market volatility, infrastructure decay, and Venezuelan hyperinflation pose significant risks to its energy security and import bill. India's state-run companies have invested $2.5 billion in Venezuela before it came under stiff US sanctions in 2020.

India used to be a major buyer of Venezuelan heavy crude, importing mo...