New York: Us President Donald Trump’s Threat to Impose a 25 per cent tariff on Exports from Countries that Buy Oil from Venezuela would Hit Hit Hit India Whoch Already Us Taxes NEXTON
Trump Announced on Truth Social on Monday That Any Country “That Purchases Oil And/Or Gas From Venezuela will be forced to pay a tariff of 25 per cent to the united States on the united States on any trade. Country ”.
India Imported 63,115 Barrels per day (BPD) in 2024, according to reports.
It will also also have new Delhi’s plans to increase cooperation in the petroleum field with venezuela.
Trump said that 25 per cent tarifs will come into force on April 2, when he plans to impose reciprocal tarifs on all counters. The new threat came amid reports that the reciprocal tariffs may be lesse away and directed at certain sectors.
Trump linked the levy to his battle with venezuela over the gang, treen de aragua (TDA), which he designed as a “Foreign terrist organization”.
He accused the venezuelan government of “purposefully and decitically” sending over the members of the gang linked to murders and other crimes across the country and Made it a part of Terrorism.
Several other countries will be hit by the tariff – and that include China, which is venezuela’s biggest important.
But the US is it self among the top importers of venezuelan oil getting 228,000 bpd from it last year.
Trump’s Administration Gave the US Oil Company Chevron Two Months to End Its Operations in Venezuela
India has been looking to expand its trade with venezuela
Venezuela’s Vice President delcy Rodriguez, who holds the petroleum portfolio, Visited India in February During the Energy India Week Ent.
She met with India’s Petroleum Minister Hardeep Singh Puri and Other Officials.
Energy Watch Said Puri Had Sounded Hopeful of Increasing Imports from Venezula.
It Quoted Him as Saying during Energy Week, “Earlier, venezuelan oil was not available in the market trust of international constraints. Now, all the signals in the directing of the two Eased ”.
“So, if your question to me is can you expect more oil to come from venezuela, my answer will be, yes, one can provided these processes are so Sorted out”, He said.
He added, “I am looking at it with great optimism to these issues getting resolution”.
But thats hopes now appear dashed.
Venezuela has long been under us sanctions over what washington said was president nicolas maduro.
Under Former Us President Joe Biden, The sanctions were eased with a general waver, but it was rescinded last year when Maduro was accused of not holding fair collections.
Biden’s Administration Gave Specific, Restrictive Wavers which Trump Abolished.