Reliance Industries’ shares are under spotlight as the business halts Venezuelan oil purchases after Trump’s 25% tax

Reliance Industries has temporarily ceased purchasing oil from Venezuela after US President Donald Trump imposed a 25% tax on countries that import crude from South American countries.

Existing Shipment to be delivered:

India’s largest private refinery is slated to receive a supply of Merey crude from Venezuela. However, subsequent transactions have been halted, according to persons familiar with the situation.

Reliance had acquired exemptions from the United States last year, allowing it to import Venezuelan petroleum. According to sources, since the beginning of 2025, the corporation has imported 6.5 million barrels. However, Trump’s most recent executive order would slap secondary taxes on nations importing Venezuelan oil beginning April 2. Some Indian refiners have previously purchased Venezuelan oil through intermediaries rather than directly from the government. However, Russian crude remains the favored choice due to its low cost and ease of supply. Reliance continues to purchase oil from Russia as well.

China remained the largest consumer of Venezuelan oil, accounting for more than 40% of total shipments in February. While some Chinese refiners may temporarily cut imports owing to enhanced monitoring, the global traffic in sanctioned oil is unlikely to halt. Reliance Industries Limited is an international corporation headquartered in Mumbai, Maharashtra, India. It engages in various industries, including energy, petrochemicals, natural gas, retail, entertainment, telecommunications, media, and textiles. Reliance’s move demonstrates the rising effect of US trade policy on global oil markets. While Venezuelan petroleum confronts challenges, alternate suppliers, such as Russian oil, remain essential.