U.S. President Donald Trump on Saturday (January 31, 2026) said India will buy Venezuelan oil, as opposed to purchasing oil from Iran.
U.S. Treasury Secretary hints at possible tariff relief for India as Russian oil imports drop
“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.
