Trump Says India to Start Buying Venezuelan Oil, Signalling Shift from Iranian Crude
U.S. President Donald Trump said on Saturday that India is set to begin purchasing oil from Venezuela, marking what he described as a major change from importing oil from Iran.
Trump made the comments to reporters aboard Air Force One while travelling to Palm Beach, Florida, framing the emerging shift as part of a broader international energy arrangement.
According to Trump, “We’ve already made that deal, the concept of the deal … India is coming in, and they’re going to be buying Venezuelan oil as opposed to buying it from Iran.”
He also welcomed the possibility of China joining discussions on Venezuelan oil, suggesting a wider global interest in crude supplies from Caracas.
Backdrop: Sanctions and Shifting Supply
India hadn’t been a significant buyer of Iranian crude since 2019 due to U.S. sanctions targeting Tehran’s energy sector — a move that pushed New Delhi to diversify its import sources over recent years.
Vladimir Putin’s administration and the Russian Federation became major suppliers as Western restrictions tightened on Iran and Russia following geopolitical tensions.
The Trump administration has recently eased some sanctions on Venezuela’s oil industry — a strategy aimed at attracting major buyers and reducing revenue flows to sanctioned nations like Russia and Iran.
This policy shift is intended to channel Venezuelan crude into global markets under new rules that facilitate U.S. companies’ participation.
Recent India-Venezuela Engagement
Just days before Trump’s statement, Indian Prime Minister Narendra Modi spoke with Venezuela’s acting leader Delcy Rodríguez, committing to strengthening bilateral relations across trade, energy, and investment.
This was their first conversation since political changes in Venezuela earlier in the year, underscoring broader diplomatic and economic interest between the two countries.
So far, there has been no formal confirmation from the Indian government about a confirmed contract or detailed terms of oil purchases from Venezuela.
Trump’s comments, based on the “concept of a deal,” signal ongoing discussions but stop short of outlining a finalised agreement.
What It Could Mean
If realised, a shift toward Venezuelan supplies could help India reduce dependence on Middle Eastern and Russian crude, potentially diversifying its energy mix and deepening cooperation with Latin American producers.
It would also represent a diplomatic alignment with U.S. preferences to reshape oil trade flows away from sanctioned sources.
However, experts note that past imports from Venezuela have been limited by international sanctions and logistical challenges, and India’s future purchase plans remain subject to practical constraints and diplomatic negotiations.
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