Trump says India will buy oil from Venezuela, not Iran

U.S. President Donald Trump on Saturday ​(January 31, 2026) said India will buy Venezuelan ‌oil, as opposed ​to purchasing oil from Iran.

“We’ve already made that deal, the concept of the deal,” Mr. Trump told reporters while on Air Force One, en ​route to Florida from Washington, ⁠D.C.

Mr. 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.

The U.S. 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.

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

Mr. Trump also said on Saturday (January 31, 2026) ⁠that China was also welcome to make a deal ​with the U.S. to buy ⁠Venezuelan oil.