Sharing a post on Truth, Trump said that Venezuela has been very hostile to the US and countries purchasing oil from it will be forced to pay the tariff on all their trade to the US starting April 2.

“…any Country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country. All documentation will be signed and registered, and the Tariff will take place on April 2nd, 2025, LIBERATION DAY IN AMERICA,” the US President said.

Donald Trump’s latest tariff on exports from countries that buy oil from Venezuela would hit India which already fears reciprocal US taxes next month. According to IANS, India imported 63,115 barrels per day (bpd) in 2024. It will also hit New Delhi’s plans to increase cooperation in the petroleum field with Venezuela.

According to the report, India has been looking to expand its trade with Venezuela. In February, Venezuela’s Vice President Delcy Rodriguez, who holds the petroleum portfolio, visited India during the Energy India Week event. Later, she also met Petroleum Minister Hardeep Singh Puri and other officials.

According to the IANS, Puri said, “Earlier, Venezuelan oil was not available in the market because of international constraints. Now, all the signals point in the direction of those constraints being 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 sorted out.”

(With Inputs from Agencies)

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