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The U.S. will impose 25% tariffs on countries that buy oil and gas from Venezuela, as the United States seeks to increase pressure on President Nicolas Maduro and China.
Countries that buy oil and gas from Venezuela will face tariffs on any trade they have with the U.S.
The tariffs take effect on April 2 2025.
Venezuela exported about 660,000 barrels per day in 2024. China was the largest destination for the South American nation’s crude exports, purchasing 270,000 bpd last year.