Trump Claims India to Buy Venezuelan Oil, Not Iranian; US Shifts Global Energy Strategy
Budget
M
Moneycontrol•01-02-2026, 10:18
Trump Claims India to Buy Venezuelan Oil, Not Iranian; US Shifts Global Energy Strategy
- •US President Donald Trump announced India will buy oil from Venezuela instead of Iran, just before India's budget presentation.
- •Trump stated, "India is coming in, and they're going to be buying Venezuelan oil as opposed to buying it from Iran," confirming a conceptual deal.
- •The US is pressuring major oil importers to diversify sources, aiming to reduce Russia's oil revenue and reshape global energy routes.
- •The US previously imposed tariffs on India for Venezuelan oil but has now reversed its stance.
- •US envoy Laura F. Dogu arrived in Caracas, signaling improved US-Venezuela relations and potential reopening of the US embassy after seven years.
Why It Matters: Trump claims India will shift oil purchases from Iran to Venezuela, reflecting a major US global energy strategy change.
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