Trump pronounces 25% tariff on nations shopping for Venezuelan oil – The way it will influence India | India Information – The Occasions of India
President Donald Trump stated on Monday he would levy a 25 % tariff throughout the board on any nation shopping for oil or gasoline from Venezuela, as he escalated commerce wars with quite a lot of US foes and allies.
“Venezuela has been very hostile to the US and the Freedoms which we espouse,” he wrote on his Reality Social community. “Subsequently, any Nation that purchases Oil and/or Gasoline from Venezuela will probably be pressured to pay a Tariff of 25% to the US on any Commerce they do with our Nation.”
In December 2023 and January 2024, India turned the highest purchaser of Venezuelan crude oil. In 2024, India imported 22 million barrels of oil from Venezuela, which made up 1.5% of India’s complete crude oil purchases.
Key figures concerning India’s oil/gasoline imports from Venezuela:
- December 2023: India imported roughly 191,600 barrels per day (bpd). Reliance Industries acquired round 127,000 bpd, whereas Indian Oil Company (IOC) and HPCL-Mittal Power acquired roughly 37,000 bpd and 28,000 bpd, respectively.
- January 2024: India’s imports rose to over 254,000 bpd, which was almost half of Venezuela’s complete oil exports of virtually 557,000 bpd for the month.
Saying the brand new tarrif, Trump stated on his Reality Social platform: “President Donald J. Trump introduced right this moment that the US of America will probably be placing what is named a Secondary Tariff on the Nation of Venezuela, for quite a few causes, together with the truth that Venezuela has purposefully and deceitfully despatched to the US, undercover, tens of 1000’s of excessive stage, and different, criminals, lots of whom are murderers and other people of a really violent nature. Among the many gangs they despatched to the US, is Tren de Aragua, which has been given the designation of “Overseas Terrorist Group.” We’re within the technique of returning them to Venezuela — It’s a huge activity! As well as, Venezuela has been very hostile to the US and the Freedoms which we espouse.”
“Subsequently, any Nation that purchases Oil and/or Gasoline from Venezuela will probably be pressured to pay a Tariff of 25% to the US on any Commerce they do with our Nation. All documentation will probably be signed and registered, and the Tariff will happen on April 2nd, 2025, LIBERATION DAY IN AMERICA. Please let this notification serve to signify that the Division of Homeland Safety, Border Patrol, and all different Legislation Enforcement Businesses inside our Nation have been so notified. Thanks in your consideration to this matter!” Trump added.
