09-May-2025
Economy News
 
US tariff on Venezuelan oil
28-Mar-2025

Indian refiners are now stuck with a problem after the US imposed 25% tariffs on countries buying crude oil from Venezuela, forcing them to look for alternative oil sources. While oil imports from the south American country to India have not been conventionally high, these shipments increased last year after the US eased earlier sanctions imposed on the country. Indian refiners are now likely to diversify their sources which may not come at a competitive price given Venezuelan oil was available at a discount than Brent, industry players say.

News Source:- https://www.financialexpress.com/policy/economy-us-tariff-on-venezuelan-oil-3790729/?ref=hometop_hp