Daijiworld Media Network - Washington

Washington, Feb 1: US President Donald Trump on Saturday said that India will purchase oil from Venezuela, instead of sourcing crude from Iran, indicating a shift encouraged by Washington amid ongoing sanctions and trade negotiations.

Speaking to reporters aboard Air Force One while travelling from Washington to his Florida residence, Trump said, “We’ve already made that deal, the concept of the deal.”

The remarks came a day after a Reuters report stated that the United States has informed New Delhi that it may soon resume purchases of Venezuelan oil as a substitute for Russian imports. The report cited three people familiar with the matter.

India has not imported Iranian oil in significant quantities for several years due to US sanctions. However, it emerged as one of the largest buyers of Russian crude after Moscow’s invasion of Ukraine in 2022, as Western sanctions led to discounted prices.

In August, Trump doubled import duties on Indian goods to 50 per cent to pressure New Delhi into reducing Russian oil purchases, and earlier this month warned that tariffs could rise further if imports continued. Subsequently, US Treasury Secretary Scott Bessent indicated in January that the additional 25 per cent tariff could be rolled back, citing a sharp drop in India’s Russian oil imports.

In March 2025, Trump had also imposed a 25 per cent tariff on countries buying Venezuelan oil, including India. However, the US government this week lifted some sanctions on Venezuela’s oil sector, easing the way for American companies to trade in its crude.
Trump’s latest comments signal an apparent easing of tensions in US-India relations, which have remained strained over trade and energy issues over the past year.

The US President also said China could strike a similar arrangement. “China is welcome to come in and would make a great deal on oil,” Trump said, without elaborating.