Washington: In a significant shift in international oil trade dynamics, US President Donald Trump announced that India will now purchase oil from Venezuela instead of Iran. This development was disclosed by Trump while speaking to reporters aboard Air Force One during his journey from Washington to Florida. According to TRTworld.com, the decision aligns with the Trump administration's broader strategy to oversee Venezuelan oil revenue. US Secretary of State Marco Rubio detailed the administration's plans, stating that funds from sanctioned Venezuelan oil sales will be allocated for essential services and monitored under US supervision. This measure is intended as an interim step, with the US refraining from subsidizing investments in Venezuela's oil industry. In related remarks, President Trump mentioned ongoing discussions with Iran, expressing hope for a satisfactory outcome that would preclude the development of nuclear weapons. He revealed that while no final decision has been made, substantial US naval forces are present in the region to support diplomatic negotiations. The topic of international trade also featured prominently in Trump's comments, particularly regarding Canada's trade negotiations with China. Trump warned of significant consequences should Canada proceed with a trade agreement with China, emphasizing that such a deal could lead to China exerting undue influence over Canada. He reiterated his previous threat of imposing a 100 percent tariff on Canadian goods if the deal materializes. Lastly, Trump touched upon US-Cuba relations, expressing optimism about reaching a mutually beneficial agreement. This comes after his recent threats to impose tariffs on countries supplying oil to Cuba, signaling a potential shift in US policy towards the island nation.