Trump’s 25% tariff threat on Venezuela oil imports may impact India
New York: US President Donald Trump has announced a 25% tariff on exports from countries purchasing oil and gas from Venezuela, a move that could significantly impact India.
Trump made the announcement on Truth Social on Monday, stating, “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 any Trade they do with our Country.” The tariff is set to take effect on April 2, coinciding with his plans to impose reciprocal tariffs on all countries, though reports suggest these may be sector-specific.
India, which imported 63,115 barrels per day (bpd) of Venezuelan oil in 2024, had been looking to expand trade with the South American nation. In February, Venezuela’s Vice President and Petroleum Minister Delcy Rodríguez met with India’s Petroleum Minister Hardeep Singh Puri during the Energy India Week event. Puri had expressed optimism about increasing imports from Venezuela, citing easing international constraints. However, Trump’s tariff move now threatens these plans.
Trump linked the tariff to his campaign against the Venezuelan gang Tren de Aragua (TdA), which he designated as a “foreign terrorist organisation.” He accused Venezuela’s government of deliberately sending gang members to the US, attributing them to crimes across the country.
The tariff would affect multiple nations, including China, Venezuela’s largest oil importer. Ironically, the US itself remains a top buyer, importing 228,000 bpd from Venezuela in 2024. Trump’s administration has also given US oil company Chevron two months to wind down its Venezuelan operations.
Venezuela has been under US sanctions for years over allegations against President Nicolás Maduro. While former President Joe Biden had eased restrictions through a general waiver, it was rescinded last year following claims of unfair elections. Biden’s administration had introduced specific waivers, which Trump has now revoked.
With the new tariff set to take effect in April, India’s plans for deeper energy ties with Venezuela face uncertainty.
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Suryakumar's half-century, Hardik's five-for in vain as LSG defeat MI by 12 runs
Lucknow, Apr 4 (PTI): Suryakumar Yadav's fighting half-century went in vain as Lucknow Super Giants defeated Mumbai Indians by 12 runs in an Indian Premier League match here on Friday.
Batting first, LSG, riding on half-centuries from openers Mitchell Marsh (60 off 31 balls) and Aiden Markram (53 off 38 balls), scored 203/8 despite MI skipper Hardik Pandya (5/36) taking his maiden five-wicket haul in T20 cricket.
In reply, MI were restricted to 191 for five despite Suryakumar scoring a 43-ball 67, studded with nine boundaries and a six.
Shardul Thakur, Akash Deep, Avesh Khan and Digvesh Rathi took a wicket each for LSG.
Former MI skipper Rohit Sharma sat out of the contest after being hit on the knee during nets.
Brief scores:
Lucknow Super Giants: 203 for 8 in 20 overs (Mitchell Marsh 60, Aiden Markram 53, Ayush Badoni 30, David Miller 27; Hardik Pandya 5/36).
Mumbai Indians: 191 for 5 in 20 overs (Naman Dhir 46, Suryakumar Yadav 67, Tilak Varma 25, Hardik Pandya 28 not out).
