India to buy Venezuelan oil instead of Iranian, says Trump

US President Donald Trump said that India plans to purchase oil from Venezuela rather than Iran.

Speaking to journalists aboard his plane en route to Florida, Trump noted that the framework for the deal has already been prepared, Caliber.Az reports.

“India is coming in and they’re going to be buying Venezuelan oil as opposed to buying it from Iran. So, we’ve already made that deal, concept deal,” the US president said.

India’s oil trade with Venezuela was once significant but has collapsed under US sanctions; after sanctions eased in late 2023, Indian refiners briefly resumed purchases before Western tariff threats curtailed most imports.

Venezuela holds about 18 % of global oil reserves, but production and exports remain limited, and Venezuelan crude accounts for only a tiny share of India’s overall oil supply as of 2025.

India historically diversified crude sources to include Venezuela, but Western sanctions and US tariff policies have forced New Delhi to pivot toward Middle Eastern, African and Brazilian-sourced crude instead.

By Jeyhun Aghazada