Trump says India will buy oil from Venezuela, not Iran

US President Donald Trump on Saturday said India will buy Venezuelan oil, as opposed to purchasing oil from Iran.

“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. Trump’s comment came a day after the United States told Delhi it could soon resume purchases of Venezuelan oil to help replace imports of Russian oil, three people familiar with the matter told Reuters.

Bessent hints at possible US tariff relief for India as Russian oil imports drop

The US effort to supply Venezuelan crude to India comes as Washington seeks to reduce the oil revenue that is funding Russia in its war in Ukraine.

Trump imposed 25% tariffs on countries buying Venezuelan oil, including India, in March last year.

India’s Reliance to buy sanctions-compliant Russian oil in February and March, sources say

Trump also said on Saturday that China was also welcome to make a deal with the US to buy Venezuelan oil.