U.S. President Donald Trump stated on Sunday that India will buy crude oil from Venezuela instead of Iran, asserting a deal has been conceptualised to support this shift. Trump made the remarks aboard Air Force One as part of broader U.S. efforts to influence global oil trade and reduce revenues to Russia amid its war in Ukraine.
The U.S. has recently indicated that New Delhi may be permitted to resume Venezuelan crude imports after years of limited trade due to sanctions. Trump also suggested that China could negotiate a similar arrangement. India currently imports minimal oil from Iran due to longstanding sanctions but had previously sourced significant volumes from both Iran and Venezuela before these constraints.
