Trump says India will buy Venezuelan oil as U.S. eases curbs, aiming to replace Russian supplies
President Donald Trump said India will begin purchasing Venezuelan oil, a move he cast as helping the world’s third-largest oil importer pivot away from Russian crude as Washington loosens restrictions on Caracas.
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“We’ve already made that deal, the concept of the deal,” Trump told reporters aboard Air Force One as he traveled to his Florida residence from Washington.
The comments followed a Reuters report that the United States has told Delhi it could soon resume purchases of Venezuelan oil to help offset reduced imports from Russia, citing three people familiar with the matter.
India halted Venezuelan crude purchases last year after Trump in March imposed a 25% tariff on countries buying oil from Caracas. New Delhi had already stopped loading Iranian oil in 2019 under U.S. sanctions tied to Tehran’s nuclear program.
To replace lost barrels, Indian refiners initially leaned on U.S. crude, then curtailed those volumes and shifted to discounted Russian seaborne oil after Western nations sanctioned Moscow over its 2022 invasion of Ukraine.
Trump in August doubled duties on imports from India to 50% to pressure New Delhi to curtail Russian oil purchases, and earlier this month warned the rate could rise again if flows did not decline.
In January, Treasury Secretary Scott Bessent signaled that an additional 25% tariff on Indian goods could be removed, citing what he called a sharp reduction in Indian imports of Russian crude. The administration has framed the mix of penalties and incentives as part of a broader effort to reshape global oil trade away from Moscow.
Separately, the U.S. government this week lifted some sanctions on Venezuela’s oil industry to make it easier for U.S. companies to sell its crude. The easing opens a channel for more Venezuelan barrels to reach global markets as Washington seeks to redirect supply lines without spiking prices.
Trump’s remarks suggested momentum in U.S.-India relations after a year of tariff disputes and energy friction. Facilitating Indian access to Venezuelan crude could reduce exposure to Russia while offering New Delhi supply diversification at a time of heightened geopolitical risk.
Trump also floated the possibility of China striking its own oil deal with Venezuela. “China is welcome to come in and would make a great deal on oil,” he said, without offering additional details.
Neither Washington nor New Delhi immediately released timelines or volumes for prospective Indian purchases of Venezuelan crude. Any restart would depend on the scope of U.S. sanctions relief, commercial terms with PDVSA, and how Indian refiners balance logistics, pricing and compliance risks.
By Abdiwahab Ahmed
Axadle Times international–Monitoring.
