US President Donald Trump said on Saturday that India will purchase Venezuelan oil instead of importing crude from Iran, signaling a shift in energy trade amid Washington’s broader sanctions strategy.
Speaking to reporters aboard Air Force One while traveling from Washington to Florida, Trump said the United States had already agreed in principle to the arrangement. He added that China would also be welcome to reach a similar deal with Washington to buy Venezuelan oil.
Washington links energy shift to sanctions strategy
Trump’s remarks followed US outreach to New Delhi, indicating that India could soon resume Venezuelan oil purchases to replace part of its Russian imports, according to sources familiar with the discussions. India has pledged to significantly reduce Russian crude intake after Washington raised tariffs tied to such purchases.
As a result, India is expected to cut Russian oil imports by several hundred thousand barrels per day in the coming months. In March 2025, Trump imposed 25 percent tariffs on countries buying Venezuelan oil, including India, while intensifying pressure on Venezuelan President Nicolas Maduro, whom US forces captured on January 3.
Since then, Washington has taken steps to direct Venezuela’s government and plans to exert long-term control over its oil sector. US officials see redirecting Venezuelan crude to India as part of a broader effort to curb revenues that support Russia’s war in Ukraine.
India accelerates diversification of crude supplies
Meanwhile, Indian Oil Minister Hardeep Singh Puri said India continues to diversify crude sources as Russian imports decline. Sources said India aims to reduce its Russian oil intake to below one million barrels per day soon.
Imports stood at about 1.2 million bpd in January and are projected to fall to one million in February and 800,000 in March. Eventually, they may decline to 500,000–600,000 bpd, potentially easing the path toward a broader US-India trade agreement as Western sanctions reshape global energy flows.
