U.S. President Donald Trump has asserted that India is set to begin purchasing oil from Venezuela instead of Iran, reflecting a possible shift in global energy supply routes. This comes as India has not been importing significant volumes of Iranian crude due to longstanding U.S. sanctions on Tehran, although Iran was once a major supplier to the Indian market.
Trump made the remarks while speaking to reporters aboard Air Force One, suggesting that an agreement for India to source Venezuelan crude has already been conceptualised. The U.S. administration has been promoting Venezuelan oil to India as part of broader efforts to curb Russia&rsquo;s revenue from crude exports, particularly amid geopolitical pressures related to the war in Ukraine.
This development occurs against a backdrop of shifting crude import patterns. India&rsquo;s reliance on Russian oil, which surged after the 2022 Ukraine crisis due to steep discounts, is projected to decline in the coming months as tariff pressures and geopolitical considerations mount. In response, the United States has signalled that India could resume Venezuelan crude purchases to help diversify its energy sources.
Previously, Trump imposed a 25% tariff on countries purchasing Venezuelan oil, including India, as part of a broader strategy to influence global trade. Renewed U.S. outreach regarding Venezuelan crude suggests an evolving approach to energy diplomacy amid complex international relations.
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Trump claims India will source Venezuelan oil amid shifting global energy trade dynamics

India’s Oil Shift: Venezuela Over Iran Claim

Trump claims India will source Venezuelan oil amid shifting global energy trade dynamics

February 1, 2026 | 09:29 IST