By Amjad Qaimkhani
WASHINGTON: In the aftermath of the United States’ capture of Venezuela, India has agreed to purchase oil from Venezuela instead of Iran, US President Donald Trump said on Sunday.
Trump said the shift was part of a broader realignment in global energy markets. He also extended an invitation to China to negotiate the purchase of Venezuelan oil, saying: “China is welcome to come in and would make a great deal on oil.”
The president suggested that a deal with India had already been struck. He said the arrangement would see the country replace Russian oil imports with crude from Venezuela. The move is understood to be part of a US strategy to cut Russia’s oil revenue amid its ongoing war in Ukraine.
Washington has been seeking to reduce the funds Moscow receives from energy exports. Trump acknowledged that the agreement would replace oil that India traditionally sourced elsewhere. He said: “We’ve already made that deal, the concept of the deal.”
India’s oil trade has seen significant shifts in recent years. The country curtailed imports from Iran after US sanctions were tightened in 2019, and since then Tehran has not been a major supplier. The president’s remarks also came as the US eased some sanctions on Venezuela’s oil industry, a step aimed at encouraging trade and allowing Caracas to export crude more freely.
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