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India not likely to feel bite of Trump's Venezuela oil tariff
Mint Ahmedabad
|March 28, 2025
Barely a blip
Since taking over as US President for a second time, Donald Trump has kept the world on its toes with an avalanche of tariff threats. While most are yet to materialize, Trump recently announced a 25% tariff on all US trading partners that import crude oil from Venezuela, effective 2 April.
This, however, is unlikely to have any material impact on India, experts told Mint. That's because the share of Venezuelan crude oil in India's oil import basket is less than 1%. And with Reliance Industries—a major importer of Venezuelan crude to India—halting fresh imports, the country's position has improved.
This story is from the March 28, 2025 edition of Mint Ahmedabad.
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