In a significant statement on Saturday, January 31, 2026, US President Donald Trump claimed that India has agreed to purchase oil from Venezuela as a replacement for Iranian crude. Speaking to reporters aboard Air Force One, Trump asserted that the “concept of the deal” has already been established.
This announcement comes as Washington intensifies its influence over Venezuela’s energy sector following the US capture of former President Nicolás Maduro in early January 2025.
1. The “Concept of the Deal”
Trump framed the shift as part of a broader US-led realignment of global energy supply chains.
- The Quote: “India is coming in, and they’re going to be buying Venezuelan oil as opposed to buying it from Iran. So, we’ve already made that deal, the concept of the deal,” Trump stated.
- China Invited: He added that China is also “welcome” to strike a similar arrangement to purchase Venezuelan crude under the new US-controlled framework.
- Washington’s Control: Since January 2025, Washington has effectively directed the Caracas government and plans to control Venezuela’s oil industry indefinitely to ensure a stable global supply.
2. Strategic Rationale: Replacing Russia and Iran
The push for India to buy Venezuelan oil is part of a “triple-threat” energy strategy by the Trump administration:
- Reducing Russian Revenue: Washington has pressured New Delhi to slash its imports of Russian oil (which surged post-2022) to limit Moscow’s war funding.
- The Tariff Lever: To enforce this, the US raised tariffs on Indian goods to 50% in August 2025, specifically citing India’s continued purchases of Russian crude as the reason for 25% of that hike.
- Isolating Iran: While India had already stopped significant Iranian imports due to previous sanctions, Trump’s comments underscore a permanent shift to prevent any future resumption of trade with Tehran.
3. India-Venezuela Engagement
The US President’s claim coincides with a renewed high-level diplomatic outreach between New Delhi and Caracas:
- Modi-Rodríguez Call: On Friday, January 30, 2026, Prime Minister Narendra Modi spoke with Venezuela’s Acting President, Delcy Rodríguez.
- Expanding Ties: Both leaders agreed to deepen cooperation in energy, trade, and investment, marking the first leadership-level contact since the US military operation in Venezuela.
- Diversification: Indian Oil Minister Hardeep Singh Puri recently confirmed that India is actively diversifying its crude sources as Russian imports fall toward a projected 500,000–600,000 barrels per day.
4. Political Reaction in India
The opposition has been quick to question the transparency of these reported deals.
- Lack of Official Confirmation: As of February 1, the Indian government has not yet issued a formal statement confirming Trump’s “concept of the deal.”
- Congress Critique: Congress leader Jairam Ramesh noted that the US President appears to be disclosing sensitive Indian policy shifts—such as the halting of “Operation Sindoor” and the pivot in oil imports—before New Delhi itself.
Conclusion: A Shift in Global Alliances
The move signals that the Trump administration is using Venezuela’s vast oil reserves as a diplomatic tool to detach major Asian economies from Russian and Iranian influence. For India, the transition to Venezuelan crude offers a potential path to tariff relief from the US, though it requires navigating the complex legalities of a Venezuelan energy sector currently under direct American oversight.
