Indian company Reliance will stop buying Venezuelan oil after tariffs announced by the United States
#Reliance Industries of #India (RELI.NS), the operator of the world's largest #refining complex, will halt imports of Venezuelan #oil after the #UnitedStates announced a 25% #tariff on nations that buy crude from the South American nation, three sources said Wednesday. The Indian conglomerate, which last year won approval from U.S. authorities to buy oil from the #sanctioned #producer, imports an average of 2 million barrels of #Venezuela crude each month, according to #LSEG data.
https://www.reuters.com/business/energy/indias-reliance-stop-buying-venezuelan-oil-over-us-tariffs-sources-say-2025-03-26/