India’s Reliance Industries, operating the largest refining complex globally, will stop importing Venezuelan oil due to a new 25% U.S. tariff on countries purchasing crude from Venezuela. Reliance, which imports about 2 million barrels monthly, might still receive an April cargo. The tariff threat has already slowed Venezuelan heavy crude loading at main ports.
Tariff shock turns FIIs to sellers in April. Analysts flag global risk but back India’s fundamentals
Foreign institutional investors reversed course in early April, spurred by rising global trade tensions following US President Trump’s announcement of steep tariffs. This led to
April 5, 2025