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RIL Halts Purchase of Venezuelan Oil
Mint Mumbai
|March 27, 2025
Reliance Industries Ltd (RIL) has paused further purchases of Venezuelan crude after US President Donald Trump authorized a 25% tariff on countries buying the South American country's oil.
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RIL is expected to take delivery of a cargo of Merey crude that's currently en route from Venezuela, but additional buying has been put on hold, according to people familiar with the situation, who asked not to be identified because the matter is sensitive.
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