India to buy oil from Venezuela instead of Iran: Trump

US President Donald Trump has said that India will buy Venezuelan oil, as opposed to purchasing oil from Iran.

"We've already made that deal, the concept of the deal,” Trump told reporters on Saturday while on Air Force One, en route to Florida from Washington.

Trump added that China was also welcome to make a deal with the US to buy Venezuelan oil.

On Thursday, US Secretary of State Marco Rubio outlined how the Trump administration plans to oversee Venezuela’s oil revenue, saying funds from sanctioned oil sales will be used for basic services and placed under US supervision.

He said the United States will not subsidise investments in Venezuela’s oil industry and is only overseeing the sale of sanctioned petroleum as an interim step.

Iran

Trump said that Iran is “seriously talking” with the US, and he hopes it will result in “something acceptable”.

“Certainly, I can't tell you that, but we do have very big, powerful ships heading in that direction. I hope they negotiate something acceptable,” Trump said when asked if he made a final decision on Iran.

“Some people think that some people don’t make a negotiated deal that would be satisfactory with no nuclear weapons and say they should do that, but I don’t know that they will. But they are talking to us, seriously talking to us,” he added.

Canada and Cuba

Trump said the United States would respond in a significant way if Canada proceeds with the trade agreement that it negotiated with China.

"If they do a deal with China, yeah, we'll do something very substantial," he said.

"We don't want China to take over Canada. And if they make the deal that he's looking to make, China will take over Canada."

Trump last week said he would impose a 100 percent tariffs on Canada if it follows through on a trade deal with China.

Trump said that he believed the United States would "work a deal" on Cuba.

His comments came days after threatening tariffs on any country supplying Cuba with oil.