Highlights:
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Trump says India will buy Venezuelan oil instead of Iranian crude
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Statement made aboard Air Force One while traveling to Florida
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No immediate response from the Indian government
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Comments come amid US sanctions on Iran and Venezuela
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India continues to diversify oil imports, including Russian crude
US President Donald Trump claimed that India will shift its oil purchases away from Iran and toward Venezuela, suggesting the move is part of a broader understanding involving multiple global energy players. Trump made the remarks on Saturday (1) while speaking to reporters aboard Air Force One as he traveled from Washington, DC, to Palm Beach, Florida.
Trump’s comments came in response to a question about whether China would be able to recover money it had previously lent to Venezuela in exchange for oil supplies. While addressing China’s role, Trump also brought India into the discussion, linking both countries to Venezuelan oil exports.
“China is welcome to come in and would make a great deal on oil. We welcome China. We’ve already made a deal. India is coming in, and they’re going to be buying Venezuelan oil as opposed to buying it from Iran. So we’ve already made that deal, the concept of the deal,” he said.
Trump did not provide details on the structure, timing, or terms of the alleged deal involving India and Venezuelan oil. He also did not specify whether the arrangement involved direct government negotiations or commercial agreements between companies.
No immediate response from India to Trump claim
There was no immediate reaction from New Delhi following Trump’s comments. Indian authorities did not confirm or deny Trump’s statement, and no official clarification was issued regarding India’s current or future oil procurement strategy involving Venezuela or Iran.
India had been a significant buyer of Iranian crude oil until 2019. Imports from Iran declined sharply after the United States reimposed sanctions on Tehran, prompting major energy-importing countries to reduce or halt purchases from Iran to avoid penalties under US law.
Trump remarks come amid US sanctions pressure
Trump’s statement comes against the backdrop of continued US sanctions on both Iran and Venezuela. Washington has long sought to limit global oil purchases from countries under sanctions, applying pressure on major importers to shift sourcing to alternative suppliers.
The US has also imposed trade measures affecting India. Washington has levied 50 percent tariffs on India, including a 25 percent component linked to India’s purchases of Russian oil. These measures reflect broader US concerns about energy trade flows involving countries under sanctions or restrictions.
Despite this pressure, India has continued to pursue a diversified energy strategy aimed at ensuring stable and affordable oil supplies. In recent years, India significantly increased its imports of discounted Russian crude, making Russia one of its largest oil suppliers.
Trump, India, and evolving global energy relationships
Trump’s comments highlight the evolving nature of global energy relationships as countries navigate sanctions, pricing, and geopolitical alignments. India, one of the world’s largest oil importers, has sought to balance its strategic partnerships while maintaining energy security.
Venezuela, which holds some of the world’s largest proven oil reserves, has faced years of US sanctions that have limited its ability to sell oil freely on international markets. Any expansion of Venezuelan oil exports to major economies such as India would represent a notable shift, particularly if it occurs under the current sanctions regime.
India-Venezuela ties discussed at leadership level
Trump’s remarks also come shortly after diplomatic engagement between India and Venezuela. On Friday (31), Indian Prime Minister Narendra Modi held a telephone conversation with Venezuela’s acting president, Delcy Rodríguez. During the call, both leaders agreed to deepen and expand bilateral ties.
According to a statement from the Indian Ministry of External Affairs, the leaders discussed cooperation across multiple sectors. These included trade and investment, energy, digital technology, health, agriculture, and people-to-people exchanges.
“Both leaders exchanged views on various regional and global issues of mutual interest and underscored the importance of their close cooperation for the Global South,” the MEA said.
The statement did not specifically reference oil purchases or energy trade agreements, and it did not mention any change in India’s sourcing of crude oil.
Trump claim adds uncertainty to India’s oil strategy narrative
Trump’s assertion that India will buy Venezuelan oil instead of Iranian crude adds a new layer of uncertainty to discussions around India’s energy policy. While India has historically adjusted its oil imports in response to sanctions and pricing opportunities, any confirmed shift toward Venezuelan oil would likely have implications for its relationships with the United States, Iran, and other oil-producing nations.
For now, Trump’s comments stand without official confirmation from Indian authorities. As global energy markets continue to respond to sanctions, tariffs, and geopolitical developments, India’s oil import strategy remains closely watched by policymakers and markets alike.
