Trump says India can buy oil from Venezuela instead of Iran

On Saturday U.S. President Donald Trump said that India will purchase Venezuelan oil rather than oil from Iran.

According to Bloomberg, he told this to reporters aboard Air Force One while flying to Florida, Ukrinform reports.

Trump noted that the United States is working with India on a deal to purchase Venezuelan oil. "India's coming in and they're going to be buying Venezuelan oil, as opposed to buying it from Iran. We've already made the deal, the concept of that deal," he said.

He added that China could also reach an agreement with the United States to purchase Venezuelan oil.

"China is welcome to come in and will make a great deal on oil," Trump said.

Earlier this week, Venezuela's acting president signed historic changes to the country's oil policy that offers lower taxes and increased ownership stakes for foreign oil companies. Shortly afterward, the U.S. Treasury Department issued a general license expanding the ability of American companies to export, sell, and refine oil originating from the sanctioned South American country.

The United States intends to import large quantities of Venezuelan oil over the year following the Trump administration's move to take control of energy supplies produced in the country and to push oil companies to invest $100 billion in restoring Venezuela's oil infrastructure.

As Ukrinform previously reported, the United States, which imposed tariffs on India last year over its purchases of Venezuelan oil, informed New Delhi that it may soon resume these purchases to help replace imports of Russian oil.

Photo: The White House