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Trump says India to buy Venezuelan oil in shift from Iran, Russia

By Our Correspondent

WASHINGTON - US President Donald Trump said on Saturday that India will begin buying oil from Venezuela rather than Iran, as part of Washington’s efforts to reshape global crude trade and reduce revenue flows to geopolitical rivals.

Trump spoke to reporters aboard Air Force One while travelling from Washington to Florida.

“We’ve already made that deal, the concept of the deal,” Reuter quoted Trump as saying, adding that China is also welcome to negotiate to buy Venezuelan crude.

The comments follow Reuters reporting that the United States has told New Delhi it could soon be permitted to resume Venezuelan oil purchases to help replace imports of Russian crude, which India has pledged to cut under US pressure.

Trump’s administration previously slapped 25% tariffs on countries buying Venezuelan oil, including India, and has raised duties on Indian goods to as much as 50% over New Delhi’s continued purchases of Russian crude, which Washington says indirectly funds Moscow’s war in Ukraine.

India’s oil imports from Russia, once among the world’s highest, have been declining as New Delhi diversifies its sources, senior U.S. officials have said. The pivot toward Venezuelan crude would reflect broader U.S. efforts to undercut Russian energy revenue while reintegrating Venezuelan oil into global markets following sanctions and political turmoil there.

The Indian government has not immediately commented on Trump’s remarks. Analysts say any shift toward Venezuelan crude could strain New Delhi’s balancing act between energy security, economic ties with Moscow, and alignment with Washington’s strategic goals.