Trump says India will buy Venezuelan oil instead of Iranian crude

Trump says India will buy Venezuelan oil instead of Iranian crude

US President Donald Trump told reporters that India will buy Venezuelan oil rather than purchasing crude from Iran. Trump remarked on Saturday evening while speaking to reporters near Air Force One en route to Florida from Washington, D.C.

“We've already made that deal, the concept of the deal,” Trump told reporters while on Air Force One en route to Florida from Washington, D.C. “India is coming in and will buy Venezuelan oil,” he added, speaking onboard the aircraft.

#WATCH | US President Donald J Trump says, "China is welcome to come in and make a great deal on oil... 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. So, we've already made the concept of the… pic.twitter.com/PlVfDHys9S

— ANI (@ANI) February 1, 2026

His comments come amid evolving global energy trade dynamics, with India exploring alternative crude sources as it seeks cheaper and varied supplies for its refining sector.

He also added that China was invited to make a deal with the US to buy Venezuelan oil.

Reliance Industries’ two refinery complexes in Gujarat, which have a combined crude processing capacity of about 1.4 million barrels per day and are equipped to handle heavier and cheaper grades, are well‑positioned to process Venezuelan crude such as Merey. Those refineries have in the past sought discounted heavy crudes to improve refining margins.

The indication that India may increase purchases of Venezuelan oil reflects broader shifts in global supply chains and strategic energy choices, particularly as New Delhi balances its import mix amid sanctions, pricing pressures, and evolving US‑India energy cooperation.

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