India to buy Venezuelan oil instead of Iranian crude: Trump

US President Donald Trump has claimed that India has decided to purchase oil from Venezuela instead of Iran.

He made the claim to reporters aboard Air Force One on Saturday (January 31), saying, "The deal, or at least its preliminary framework, has already been finalised."

The Indian government has not yet responded to Trump’s remarks, reports NDTV.

Trump also stated that following the January arrest of Venezuelan President Nicolás Maduro, the oil-rich country is effectively under US control. He recalled that in March 2025, the US had imposed a 25% tariff on India and other countries for importing Venezuelan oil, following earlier tariffs on oil imports from Russia.

Bloomberg reported that in January, 18 crude-laden Venezuelan tankers were sent to refineries in Texas, Louisiana, and Mississippi—the highest volume since December 2024. Daily crude shipments from Venezuela to the US currently average 275,000 barrels, more than double the previous month, while exports to China fell to zero from last year’s daily average of 400,000 barrels.

Meanwhile, Indian Prime Minister Narendra Modi and Venezuelan Interim President Delcy Rodríguez spoke by phone on January 30, agreeing to expand bilateral ties across trade, investment, energy, digital technology, health, and agriculture.

Modi described the discussion as a step toward deepening cooperation in the coming years, marking the first top-level contact since Nicolás Maduro and his wife were detained by the US on January 3.