Which country buys how much oil from Venezuela, will others also answer Trump like Mukesh Ambani

US President Donald Trump's decision has given sleepless nights to many countries of the world. Trump has announced to impose a tax of 25% on countries buying crude oil from Venezuela. 

In response to which Mukesh Ambani, owner of India's largest oil refinery RIL, has banned buying oil from Venezuela. Like Mukesh Ambani, many countries have temporarily banned buying oil from Venezuela. In such a situation, let us know which country buys how much oil from Venezuela?

Trump is levying tariffs to put economic pressure on countries. Countries like India, China, Spain and Italy buy oil from Venezuela. India has given a license to Reliance Industries to buy oil from Venezuela. China is the biggest buyer of Venezuela's oil in the black market.

Which country buys how much oil?

China: The biggest buyer of Venezuelan crude oil, importing about 503,000 barrels per day (bpd) in February, representing 55% of Venezuela's total exports.

India: India imported 22 million barrels of oil from Venezuela in 2024. Purchases exceeded 254,000 bpd in January, almost half of Venezuela's total exports of 557,000 bpd. Imports in December 2023 were around 191,600 bpd, with Reliance Industries (RIL) securing 127,000 bpd.

Mukesh Ambani will not buy oil from this country

Reliance Industries Limited (RIL), India's largest private refiner, has decided to stop buying crude oil from Venezuela after the US tariffs were announced. RIL used to import about 2 million barrels of Venezuelan oil every month.

What will be China's decision?

China, which is the largest buyer of Venezuelan oil, will be directly affected by this tariff. However, there are already trade tensions between China and the US, and this new tariff could further escalate those tensions. China's response is not yet clear, but it is likely that they will try to diversify their energy sources.

Oil purchases from Russia will increase

Indian refiners may now turn to oil imports from Russia to meet their requirements, as the availability and access to oil from there is more accessible. There is a possibility of an increase in the purchase of Russian oil, so that India can ensure its energy security.