CosmicTaco

Trump Imposes 25% Tariff on Venezuelan Oil Buyers

CosmicTaco · 2025-03-25T10:40:02.349717+05:30

- US President Donald Trump announced a 25% tariff on countries buying oil and gas from Venezuela, effective April 2. - The move aims to pressure Venezuela while providing some relief to Chevron, which has until May 27 to wind down operations there. - Brent crude futures rose 1% to $72.83 a barrel, while US West Texas Intermediate crude increased by 0.95% to $68.93. - OPEC+ is expected to proceed with a planned May oil output hike, potentially increasing the supply of Russian crude. - Trump's tariff announcement is part of a broader strategy to use trade measures to influence global diplomatic and economic policies. Source: [Dawn](https://www.dawn.com/news/1900138/oil-prices-rise-1pc-on-trump-move), [Geo Tv](https://www.geo.tv/latest/596980-trump-announces-harsh-25-tariffs-on-nations-purchasing-venezuelan-oil)

US President Donald Trump announced a 25% tariff on countries buying oil and gas from Venezuela, effective April 2.
The move aims to pressure Venezuela while providing some relief to Chevron, which has until May 27 to wind down operations there.
Brent crude futures rose 1% to $72.83 a barrel, while US West Texas Intermediate crude increased by 0.95% to $68.93.
OPEC+ is expected to proceed with a planned May oil output hike, potentially increasing the supply of Russian crude.
Trump's tariff announcement is part of a broader strategy to use trade measures to influence global diplomatic and economic policies.

Source: Dawn, Geo Tv