US
2 min read
Trump signs order imposing tariffs on countries importing oil from Venezuela
The order comes even as the United States is still buying oil from the South American country.
Trump signs order imposing tariffs on countries importing oil from Venezuela
Trump announced that he would be imposing a "secondary" tariff on Venezuela over allegations that Caracas covertly sent tens of thousands of gang members to the US.
20 hours ago

US President Donald Trump has signed an executive order imposing tariffs on countries importing Venezuelan oil.

According to the order, from April 2, a tariff of 25 percent may be imposed on all goods imported into the US from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties.

The order said on Monday the actions and policies of "the regime of Nicolas Maduro in Venezuela continue to pose an unusual and extraordinary threat" to the national security and foreign policy of the US.

Early Monday, Trump announced that he would be imposing a "secondary" tariff on Venezuela over allegations that Caracas covertly sent tens of thousands of gang members to the US.

Secretary of State Marco Rubio said the US will not tolerate any third countries or their oil companies producing, extracting or exporting oil and oil-related products with "the Maduro regime" in Venezuela.

"This is a regime that has consistently stolen elections, pillaged from its people, and colluded with our enemies. Any country that allows its companies to produce, extract, or export from Venezuela will be subject to new tariffs, and any companies will be subject to sanctions," he said on X.

US still buying oil from Venezuela

But even the United States — despite its sanctions against Venezuela — buys oil from the South American country.

In January, the United States imported 8.6 million barrels of oil from Venezuela, according to the Census Bureau, out of roughly 202 million barrels imported that month.

And on Monday, the Treasury Department issued an extension for US-based Chevron Corp.'s lease to pump and export Venezuelan oil until May 27.

The extension, known as a general license, exempts the country from economic sanctions and allows it to continue to pump oil.

In February, Trump had announced an end to the Chevron-Venezuela relationship, in what became a financial lifeline for the South American country.

Venezuelan President Nicolas Maduro responded by accusing the US of violating international trade rules with an "arbitrary, illegal and desperate measure" designed to "undermine the development" of the South American nation.

SOURCE:TRT World & Agencies
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