India’s Reliance to stop buying Venezuelan oil over US tariffs, sources say

India’s Reliance Industries, operator of the world’s biggest refining complex, will halt Venezuelan oil imports after the United States announced a 25% tariff on nations buying crude from the South American nation, three sources said on Wednesday.
The Indian conglomerate, which last year obtained approval from U.S. authorities to purchase oil from the sanctioned producer, imports an average of 2 million barrels of Venezuelan crude every month, according to LSEG data.
It is scheduled to receive a Venezuelan cargo in early April, LSEG trade flows data showed.
U.S. President Donald Trump’s executive order says that higher tariffs may be imposed on or after April 2 on all goods imported from any country that buys Venezuelan oil.
The three industry sources with knowledge of Reliance’s purchasing plans said the company would stop buying Venezuelan crude due to the tariff threat.
It was not immediately clear, however, if it would still take delivery of the April cargo, added one of the sources, all of whom declined to be identified as they were not authorised to speak to media.
Reliance did not respond to a Reuters request for comment.
Loading of Venezuelan heavy crude at the country’s main oil ports has already slowed this week following the tariff announcement.
Reliance’s two refineries in western Gujarat state can process about 1.4 million barrels per day of crude oil.
The complexity of those plants allows it to process cheaper and heavier crudes such as Merey from Venezuela.
Source: Reuters
Related News.
September 25, 2026
ISLAND OIL: Unveiling of the Sculpture “Cyprus’s Journey Through the Ages” in Protaras – A Tribute and Landmark to Cyprus’s Historical Memory and Cultural Heritage
In a modest ceremony marked by a moving atmosphere, the sculpture “Cyprus’s Journey Through the Ages”, created by acclaimed Cypriot sculptor…
September 25, 2026
World Maritime Day 2026 from Policy to Practice – powering Maritime Excellence
Global regulations will deliver safer, more resilient shipping when they are implemented worldwide. The international maritime community marks…
September 25, 2026
Diana Shipping announces Time Charter Contract for m/v DSI Polaris with Dai An Ocean Shipping
Diana Shipping , a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through a…
September 25, 2026
Chief Economists Expect Global Economy to Stabilize, but Fiscal Constraints, Rising Living Costs and AI Investment Uncertainty Threaten Growth
The global economy is stabilizing, but the fiscal support that cushioned successive shocks since 2020 is unlikely to play the same role in the year…
September 25, 2026
V. welcomes its new graduate cohort as programme expands across the group
Twelve graduates from nine nationalities join 11th year of V.’s expanded international management programme. V., the global ship manager and marine…
September 25, 2026
From Policy to Practice: Why Seafarers Are the Key to Maritime Excellence
The shipping industry is no stranger to regulation. Seafarers and ship operators work within a vast framework of international conventions, national…
September 25, 2026
Intermodal Report – Week 38 2026
Please find below the Intermodal market report for week 38 2026. Intermodal Report Week 38 2026 Market Insight By Nikos Tagoulis, Head of…
September 25, 2026
Allied – Weekly Market Review – Week 38
Please find below the Allied Weekly Report for Week 38 | 2026 ALLIED - Weekly Market Report- Week 38
September 25, 2026
Record year on the Northeast Passage but Arctic shipping remains very limited
In 2025, a record 103 transit voyages were made via the Northeast Passage. However, this is still equivalent to only around a day and a half of…
September 25, 2026
[xclusiv] S&P Report 21th September 2026
Please find below the [xclusiv] latest Weekly S&P Report [xclusiv] 2026_09_21 Market Commentary: VLCCs: Freight Boom Reprices the Fleet The VLCC…
Subscribe to our newsletter!
if you dont want to swim alone in the ocean of news, sign up for the newsletter, and you will receive daily all the important news of world shipping!
Design & Development by P.KAN.DESIGNER
© 2026 Cyprus Shipping News. All rights reserved
Design & Development by P.KAN.DESIGNER
© 2026 Cyprus Shipping News. All rights reserved























