Trump says India plans to source crude from Venezuela, not Iran, highlighting potential changes in global energy trade and diplomacy
New Delhi: In an interview Trump said that India plans to source its oil from Venezuela rather than Iran. He explained that discussions for the deal are already underway and suggested the arrangement could be implemented soon. Trump also noted that other countries, including China, are welcome to explore similar opportunities, reflecting the US strategy to influence global energy trade.
US Sanctions and Tariffs
In March 2025, Trump levied 25% tariffs on nations that import Venezuelan oil, including India. He also targeted Indian purchases of Russian oil, saying that such trade was funding President Vladimir Putin’s war in Ukraine.
Following the US capture of Venezuelan President Nicolás Maduro in January 2026, Trump claimed the United States now controls Venezuela’s oil resources. Bloomberg reported that in January, 18 ships carrying Venezuelan crude arrived at US refineries in Texas, Louisiana, and Mississippi, the highest number since December 2024. Deliveries are projected to reach 275,000 barrels per day, more than double December 2025 volumes. Shipments to China, which averaged 400,000 barrels per day last year, fell to zero in January.
India and Venezuela Strengthen Diplomatic Relations
Just before Trump’s announcement, Prime Minister Narendra Modi spoke with Venezuela’s acting President Delcy Rodriguez, marking the first discussion between the two leaders since Maduro’s capture.
PM Modi posted on X: “Spoke with Acting President of Venezuela, Ms. Delcy Rodriguez. We agreed to further deepen and expand our bilateral partnership in all areas, with a shared vision of taking India-Venezuela relations to new heights in the years ahead.”
A statement from the Prime Minister’s office said the leaders agreed to expand cooperation in trade, investment, energy, digital technology, health, agriculture, and people-to-people ties. They also discussed regional and global issues of mutual interest and underscored the importance of cooperation for the Global South.
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In order to demonstrate the wide range of India-Venezuela ties, Acting President Rodriguez emphasised talks on agriculture, science and technology, mining, tourism, medicines, and the automobile industry.
Possible Effect on Oil Imports into India
Over 80% of India’s crude needs are met by imports, making it one of the biggest oil importers in the world. Iran used to be a major provider, but US sanctions restricted imports, forcing India to diversify its sources.
India currently gets most of its crude from Saudi Arabia, Iraq, the United Arab Emirates, and Russia, however US tariffs have reduced Russian supplies. The Americas and West Africa contribute smaller amounts.
Venezuelan crude is heavier and higher in sulfur, but India’s larger refineries, including Reliance and Indian Oil, can process it efficiently. Analysts say that buying Venezuelan oil could reduce India’s dependence on Russia and the Middle East while enhancing energy security.
Challenges Ahead
Although Trump’s statement indicates potential US support, several hurdles remain:
Sanctions and legal issues: Venezuela and Iran remain under US and European sanctions, complicating exports.
Refining requirements: Venezuelan crude requires specialized processing, which only some Indian refineries can handle.
Economic factors: Price, shipping costs, and contract security will affect any deal.
India has not will officially confirm the deal but if this deal happens how this could influence global oil trade and geopolitics.
Bottom Line
India has not confirmed any agreement with Venezuela, despite Trump’s claims that one is underway. However, recent diplomatic discussions point to a deepening of bilateral relations, especially in the areas of trade and energy.
This situation, which affects India, Venezuela, the US, Russia, and the larger Global South, demonstrates the interdependence of global energy trade and geopolitics.
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