U.S. President Donald Trump has claimed that India will be purchasing oil from Venezuela instead of Iran. “China is welcome to come in and would make a great deal on oil. India is coming in, and they’re going to be buying Venezuelan oil as opposed to buying it from Iran. India had been a major buyer of Iranian oil until 2019, when imports were significantly reduced following the reimposition of U.S. sanctions on Tehran. In recent years, India significantly increased its purchases of discounted Russian crude, making Russia one of its largest oil suppliers.

Source: The Hindu February 01, 2026 05:01 UTC