Trump asserts that India will get oil from Venezuela rather than Iran.

On Saturday, US President Donald Trump stated that India will acquire Venezuelan oil instead of procuring oil from Iran.”We have already finalized that agreement, the essence of the agreement,” Trump informed reporters aboard Air Force One, traveling from Washington, D.C. to Florida.

Trump’s remark followed the United States’ notification to Delhi that it may soon recommence acquisitions of Venezuelan oil to substitute for Russian oil imports, as reported by three individuals acquainted with the situation to Reuters.

The United States’ initiative to provide Venezuelan petroleum to India coincides with Washington’s objective to diminish the oil revenues that are financing Russia’s war in Ukraine.

In March of the previous year, Trump instituted 25% tariffs on nations purchasing Venezuelan oil, including India.

On Saturday, Trump stated that China is also invited to negotiate a deal with the U.S. for the purchase of Venezuelan oil.