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Trump said while talking to reporters on Saturday that India will now buy oil from Venezuela instead of Iran.
US President Donald Trump has said that India will now buy oil from Venezuela instead of buying crude oil from Iran. He has claimed that India has made a deal to buy oil from Venezuela.
Trump made this statement while talking to reporters on Air Force One from Washington DC. However, there is no official response from the Government of India on this yet.
Trump said, “We have already made a deal. India will buy oil from Venezuela, not from Iran.”
He also said that the concept of this deal with India has been decided. According to Trump, China can also buy oil from Venezuela if it wants.
India stopped taking oil from Venezuela after 2019
The US had imposed very stringent economic sanctions (sanctions) on Venezuela in 2019, the US also imposed secondary sanctions, that is, any country or company that buys oil from Venezuela could be barred from doing business in the US market or from banking facilities.
Because of this many countries stopped buying Venezuelan oil. India also used to buy a lot of oil from Venezuela. It has been claimed in many media reports that at that time India used to take about 6% of its total oil imports from Venezuela.
Venezuela is a member of the Organization of the Petroleum Exporting Countries (OPEC). It has the world’s largest oil reserves, but provides only about 1% of the global supply.
India starts buying Venezuelan oil again in 2024
The US partially relaxed the sanctions on Venezuela for some time (in 2023-2024), due to which India again bought oil from Venezuela.
India’s imports will reach an average of 63,000 to 1 lakh barrels per day in 2024. After this, India’s oil import from Venezuela increased to about $ 1.41 billion in 2025.
But in May 2025, America once again increased strictness on Venezuelan oil. After this, by the beginning of 2026, India’s crude import from Venezuela was reduced to only 0.3%.
Reliance trying to buy oil from Venezuela
According to Reuters report, India’s big private company Reliance Industries has started trying to get approval from America to buy crude oil from Venezuela again.
According to the report, this is being done because western countries are pressurizing India to reduce oil imports from Russia and Reliance wants to secure alternative oil supply for itself.
According to sources, Reliance representatives are talking to the US State Department and US Treasury Department for this approval. Reliance Industries did not immediately respond to an email sent by Reuters on this entire matter.

Reliance Industries’ refinery complex in Jamnagar, Gujarat.
Last year Reliance used to buy 63,000 barrels of oil daily
Reliance had earlier also purchased oil from Venezuela by taking license from America. The company has the world’s largest refinery complex. It is located in Gujarat and has a total capacity of about 14 lakh barrels per day.
In the first four months of 2025, Venezuelan company PDVSA sent oil to Reliance on four ships, equivalent to about 63,000 barrels per day.
But in March-April 2025, the US suspended most of the licenses and threatened tariffs on countries buying oil from Venezuela, after which Reliance’s last Venezuelan oil ship reached India in May 2025.
Reliance had said on Thursday that it would consider buying again if US rules allow it to sell oil from Venezuela to non-US buyers.

Venezuela will give 3 to 50 million barrels of oil to America
US President Donald Trump had said last month that Venezuela’s interim president would hand over 3 to 50 million barrels of oil to the US. Trump said that this oil will be sold at market price. Trump will have control over the money received from this.
The price of 5 crore barrels of crude oil is currently around Rs 25 thousand crores. According to the US President, it will be used in the interest of the people of Venezuela and America.

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