Trump says India will buy oil from Venezuela, not Iran

Washington: US President Donald Trump stated that India has agreed to purchase oil from Venezuela rather than Iran. Speaking to reporters on Air Force One while traveling from Washington, DC, to Florida, the President indicated that a conceptual agreement has been reached for this trade transition.

This announcement followed reports that the United States informed the Indian government they could resume buying Venezuelan crude as a substitute for Russian energy imports. This shift is part of a broader American strategy to decrease the oil revenues available to Russia during the conflict in Ukraine.

Previously, in March 2025, the Trump administration had enacted 25% tariffs on nations purchasing oil from Venezuela, a policy that included India. During his remarks on Saturday, the President also mentioned that China is permitted to negotiate similar deals with the US to acquire Venezuelan oil.