U.S. President Donald Trump announced on Saturday that India will pivot to Venezuelan oil imports as part of Washington's strategy to redirect global energy flows. The declaration follows India's gradual reduction of Russian crude purchases amid tightening Western sanctions over Moscow's military actions in Ukraine.
"They're going to be buying Venezuelan oil as opposed to buying it from Iran," Trump told reporters, describing the arrangement as a completed "concept of the deal." The statement comes three weeks after U.S. forces detained Venezuelan President Nicolas Maduro on January 3, enabling Washington to assume oversight of the South American nation's oil industry.
This development marks India's second major energy shift since 2022, when New Delhi became a top buyer of discounted Russian crude following Moscow's invasion of Ukraine. However, Trump's August 2025 imposition of 50% combined tariffs on Indian goods over Russian oil purchases accelerated New Delhi's search for alternatives.
Indian Petroleum Minister Hardeep Singh Puri hinted at this transition last month, noting that supplies from the "one source" – understood to mean Russia – were declining. Analysts suggest the Venezuelan shift helps India balance relations with Washington while maintaining energy security.
The U.S. administration plans to claim a portion of Venezuelan oil revenues, with Trump stating: "We'll take some, and they'll take a lot." This arrangement follows the March 2025 imposition of 25% tariffs on nations importing Venezuelan crude, including India.
Global energy markets are watching closely as these developments reshape trade patterns, with Asian economies increasingly caught between Western sanctions regimes and domestic energy needs.
