President Donald Trump has declared that starting April 2, the U.S. will impose a 25% tariff on imports from any nation that continues purchasing oil or gas from Venezuela. The policy aims to pressure major buyers like China, which accounted for 68% of Venezuelan oil exports in 2023, to cut ties with the Maduro regime.
Despite existing sanctions, the U.S. itself imported 8.6 million barrels of Venezuelan oil in January 2025. Additionally, the Treasury Department has extended Chevron’s license to operate in Venezuela until May 27, raising questions about the consistency of the policy.
Venezuelan President Nicolás Maduro has condemned the move, calling it illegal and desperate. The decision has also sparked concerns over potential trade conflicts, especially with China, and its impact on global oil markets. In response, oil futures have risen nearly 1.5%, reflecting uncertainty over the new tariffs and their economic consequences.
