President Donald Trump said Monday that he would impose a 25 percent tariff in all areas in any country buying oil or gas from Venezuela, while intensifying commercial wars with several American enemies and allies.
“Venezuela has been very hostile with the United States and the freedoms we defend,” he wrote in his real social network. “Therefore, any country that buys oil and/or gas in Venezuela will be forced to pay a 25% rate to the United States in any operation they do with our country.”
In December 2023 and January 2024, India became the main Venezuelan crude oil buyer. In 2024, India imported 22 million barrels of oil from Venezuela, which represented 1.5% of total crude oil purchases from India.
Key figures on the imports of oil/gas from India of Venezuela:
- December 2023: India imported approximately 191,600 barrels per day (BPD). Reliance Industries received around 127,000 BPD, while Indian Oil Corporation (IOC) and HPCL-Mittal Energy received approximately 37,000 BPD and 28,000 BPD, respectively.
- January 2024: India imports increased to more than 254,000 BPD, which was almost half of the total oil exports of Venezuela of almost 557,000 BPD for the month.
Announcing the new Tarrif, Trump said on his social platform of Truth: “President Donald J. Trump announced today that the United States of America will put what is known as a secondary rate on the country of Venezuela, for numerous reasons, including the fact that Venezuela has a purpose and misleading to the United States, under the tense of thousands of high levels of levels and others, many of which are violently Deceptive and a nature.
“Therefore, any country that buys oil and/or gas in Venezuela will be forced to pay a 25% rate to the United States in any operation they do with our country. All documentation will be signed and recorded, and the rate will take place on April 2, 2025, the day of release in the United States. Please, this notification serves to represent that the Department of Security of the Department of National Security, and all other agencies And all the agencies of the Law of the Law of the Law of the Law of the Law of the Law, which are this notification.