Washington, D.C., February 1, 2026 : U.S. President Donald Trump said on Saturday that India is poised to shift part of its crude oil sourcing away from Iran and toward Venezuela, asserting that an agreement to that effect has already been established. Speaking to reporters aboard Air Force One, Trump framed the arrangement as a concrete step in diversifying global energy partnerships and reducing reliance on certain traditional suppliers. He suggested that India will begin purchasing Venezuelan crude, marking a notable realignment in bilateral energy trade expectations this year.
Trump’s comments came amid broader diplomatic engagement between Washington and New Delhi on energy and trade issues. While India traditionally imports only limited quantities of Iranian crude due to longstanding sanctions, the United States has been encouraging New Delhi to explore Venezuelan crude as an alternative source. Trump reiterated that the so-called deal has been agreed upon in concept and invited other major energy consumers to consider similar arrangements.
The announcement follows recent moves by the United States to open avenues for Venezuelan oil exports, reflecting changes in Caracas’s energy policy that aim to attract foreign investment and revive its battered oil industry. Trump also noted that China could join in negotiating energy deals with Venezuela. The remarks have sparked responses from Indian political figures questioning the accuracy and implications of Trump’s statements, as the Indian government has not yet issued an official comment on the matter.
Observers say such shifts in oil sourcing could have implications for global crude trade flows and geopolitical alignments, especially as major importers like India balance relations with multiple suppliers while addressing domestic energy needs.
