Trump claims India will buy Venezuelan oil instead of Iranian crude

US President Donald Trump has claimed that India will purchase crude oil from Venezuela instead of Iran, though the Indian government has not confirmed any such decision.

Speaking to reporters aboard Air Force One while flying to Palm Beach, Florida, Trump made the remarks while responding to a question on whether China would recover money it had lent to Venezuela through oil supplies. “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,” Trump said, describing it as a conceptual agreement.

There was no immediate reaction from New Delhi to the comments.

India was among the largest buyers of Iranian crude until 2019, when imports were sharply reduced following the reimposition of US sanctions on Tehran. Since then, India has diversified its oil imports, significantly increasing purchases of discounted Russian crude, which has emerged as one of its largest sources of supply.

Trump’s remarks come against the backdrop of continuing US sanctions on both Iran and Venezuela, and Washington’s efforts to pressure major energy-importing nations to avoid sourcing crude from countries under restrictions. The US has also imposed steep tariffs on India, including duties linked to its purchases of Russian oil.

Meanwhile, Prime Minister Narendra Modi on Friday held a telephone conversation with Venezuela’s Acting President Delcy Rodríguez. According to the Ministry of External Affairs, the two leaders agreed to further deepen and expand the India–Venezuela partnership across a wide range of sectors, including trade and investment, energy, digital technology, health, agriculture and people-to-people ties.

The MEA said the leaders also exchanged views on regional and global issues of mutual interest and underscored the importance of close cooperation for the Global South. However, the statement did not refer to any specific agreement on crude oil purchases.

Venezuela, which holds the world’s largest proven oil reserves, was once a key supplier of heavy crude to Indian refiners before US sanctions curtailed exports. While Venezuelan oil remains commercially attractive, any large-scale resumption of imports would depend on sanctions, payment mechanisms and formal approvals, none of which have been announced by the Indian government so far.