What happened:
On January 31,US President Donald Trump said India would source crude oil from Venezuela instead of Iran, adding that the “concept of the deal” has already been agreed upon. The remarks follow recent India–Venezuela high-level engagement on expanding cooperation, including in the energy sector.
Why it matters:
The statement highlights how geopolitics is reshaping energy choices, while underscoring India’s effort to diversify oil imports and balance strategic ties amid global uncertainty.