In a significant development regarding global energy diplomacy, former United States President Donald Trump has made a bold claim about a finalized agreement between India and the US concerning Venezuelan oil resources. Speaking to journalists while en route to Palm Beach, Florida, on Saturday, Trump stated that the concept of the deal has already been established, paving the way for India to procure oil from Venezuela, which is under US control.
Trump's Assertion on India-Venezuela Oil Agreement
During his flight, Trump emphasized that the groundwork for this strategic energy partnership has been laid, indicating a move that could reshape oil trade dynamics in the region. He mentioned, 'Already made concept of deal', suggesting that preliminary discussions or frameworks are in place to facilitate India's access to Venezuelan oil reserves managed by the United States.
Invitation Extended to China for Similar Deals
In addition to the India-focused announcement, Trump extended an open invitation to China, highlighting potential opportunities for Beijing to engage in oil sourcing from Venezuela. He remarked, 'China is welcome to come in and would make a great deal on (sourcing) oil (from Venezuela)'. This statement underscores a broader strategy by Trump to involve multiple major economies in leveraging Venezuelan oil resources under US oversight.
Implications for Global Oil Markets and Diplomacy
This development carries profound implications for international relations and energy security. Key points include:
- Enhanced Energy Security for India: Access to Venezuelan oil could diversify India's energy imports, reducing reliance on traditional suppliers.
- US Influence in Venezuela: The deal reinforces US control over Venezuelan resources, impacting geopolitical dynamics in Latin America.
- Competitive Bidding with China: Trump's invitation to China may introduce competitive elements, potentially affecting oil prices and trade terms.
- Diplomatic Ramifications: Such agreements could influence relations between the US, India, China, and Venezuela, with possible effects on global oil diplomacy.
As reported by Anirban Bhaumik, this news broke on February 1, 2026, with updates provided later that day. The claims by Trump, if realized, could mark a pivotal shift in how major economies collaborate on energy resources, with Venezuela emerging as a focal point in US-led initiatives. Observers will be closely monitoring further developments to assess the implementation and impact of these proposed deals on the global stage.
