US President Donald Trump on Saturday claimed that India will buy oil from Venezuela rather than purchasing it from Iran. Speaking to reporters aboard Air Force One, he said, 'We’ve already made that deal
… India is coming in, and they are going to be buying Venezuelan oil as opposed to buying it from Iran.'
Trump repeated that the 'concept of the deal' is already agreed, though he did not share details on how or when such an arrangement might be finalised. He also said China is 'welcome' to enter into a similar deal for Venezuelan oil.
India’s Oil Trade Context
India currently imports very little crude from Iran because of longstanding US sanctions on Tehran. Before those sanctions, Iran had been one of India’s major oil suppliers, but that trade largely dried up in recent years.
The US has been pushing India to reduce imports of Russian oil, which Washington says helps fund Russia’s war in Ukraine. One part of this push includes encouraging India to consider Venezuelan oil as an alternative. Reuters sources say the US recently told New Delhi it may soon resume Venezuelan crude supplies to help replace Russian imports.
Broader US Strategy
Trump’s comments reflect a broader US effort to redirect global oil flows. The United States previously imposed 25 percent tariffs on countries importing Venezuelan oil, including India, under a 2025 executive order designed to pressure energy trade decisions.
By promoting Venezuelan crude for India and other buyers, the US aims to limit oil revenues to Russia amid ongoing geopolitical tensions. At the same time, Washington is trying to keep pressure on Tehran through continued sanctions that constrain Iran’s oil exports.
Official Response and Reality Check
There has been no official confirmation from the Indian government about any deal with Venezuela on oil supplies. Analysts note that India’s oil imports are diverse and shaped by commercial and strategic needs, and a formal contract for Venezuelan crude has not been publicly announced.
India has already started to diversify its crude sources, including exploring Venezuelan crude options partly because some state refiners are adding capacity to process heavier grades like those from Venezuela.
