‘Oil purchases from Russia dropped sharply because of U.S. threat,’ says P. Chidambaram

Congress leader P. Chidambaram has asserted that India should be able to buy oil from any source, wherever it is available. He was responding to a question on U.S. President Donald Trump’s statement on India’s oil imports, in which he alleged that India’s oil purchases from Russia have declined sharply due to the U.S. threat.

“I don’t know the implications. I don’t know what understanding has arrived at between India and the United States. We should buy oil wherever it’s available, whether it’s Russia, Venezuela, or whatever,” Mr. Chidambaram told ANI.

However, the former Finance Minister noted that only the Ministry of External Affairs and the Prime Minister would be aware of any underlying complications in the purchase of oil from Venezuela.

“But our oil purchases from Russia dropped sharply because of the U.S. threat. Now, if we can buy oil from Venezuela at a reasonable price, why not? But I don’t know what complications will arise. Only the Foreign Ministry and the Prime Minister’s office will know whether there are any complications in buying oil from Venezuela,” Mr. Chidambaram said.

Earlier on Sunday (February 1, 2026), Mr. Chidambaram had a tongue-in-cheek quip to Mr. Trump’s latest remarks, where the latter had told reporters in America that india will be buying oil from Venezuela instead of Iran.

During a post-Budget press briefing on Sunday (February 1, 2026), a reporter had quizzed the former Union Finance Minister on why is Mr. Trump announcing this. He was also asked if the U.S. President will decide from whom India should or should not buy oil.

“I’m not Karoline Leavitt, the Press Secretary of President Donald Trump,” Mr. Chidambaram said, adding, “Please ask about the Indian Budget.”

Mr. Chidambaram’s remarks came after Mr. Trump claimed that India had already made a deal to buy Venezuelan oil instead of sourcing crude from Iran.

On Saturday (January 31, 2026), addressing reporters aboard Air Force One, Mr. Trump said, “China is welcome to come in and make a great deal on oil. We’ve already made a deal. India is coming in, and they’re going to be buying Venezuelan oil as opposed to buying it from Iran. So, we’ve already made the concept of the deal.”

The Indian government has not yet responded to Mr. Trump’s comments.