U.S. President Donald Trump said on January 31, 2026 that India will buy crude oil from Venezuela “as opposed to Iran”, claiming a deal has already been conceptually agreed between Washington and New Delhi to redirect energy supplies.
Trump’s remarks signal a potential realignment in global oil supply patterns, with the United States trying to steer major importers like India away from Russian barrels toward Venezuelan crude — which the U.S. has moved to control following political shifts in Caracas earlier this year.
This shift comes amid broader U.S. use of tariffs and sanctions on countries buying Venezuelan or Russian oil, aiming to curtail revenues that could support unfriendly governments or military campaigns abroad.