Trump Says India Will Buy Oil From Venezuela

Trump in August doubled duties on imports from India to 50% to pressure New Delhi to stop buying Russian oil, and earlier this month said the rate could rise again if it did not curb its purchases.

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However, Treasury Secretary Scott Bessent signaled in January that the additional 25% tariff on Indian goods could be removed, given what he called a sharp reduction in Indian imports of Russian oil.

The U.S. government this week lifted some sanctions on Venezuela’s oil industry to make it easier for U.S. companies to sell its crude oil.

Trump’s comments on Saturday appeared to reflect continued improvement in U.S.-India relations, which have been tense throughout the past year.

Trump also said China could make a deal with the U.S. to buy Venezuelan oil.

“China is welcome to come in and would make a great deal on oil,” Trump said, without providing any details.

Reporting by Trevor Hunnicutt aboard Air Force One, Robin Respaut in San Francisco and Andrea Shalal in Washington; Editing by Sergio Non, Christopher Cushing and Sonali Paul