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 While former President Joe Biden had eased restrictions through a general waiver, it was rescinded last year following claims of unfair elections.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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Heavy rains in Bengaluru; normal life disrupted
Bengaluru: Heavy rains in the state capital on Wednesday evening have completely disrupted normal life, flooding several low-lying areas. Water has accumulated on numerous roads, causing major difficulties for vehicular traffic.
Parts of the city, including Corporation, Nagasandra, Kengeri, Jayanagar, Banashankari, and JP Nagar, experienced intense rainfall, with many houses in low-lying areas inundated.
Several tree branches and trees were uprooted, falling onto roads and electric lines, resulting in traffic congestion and power outages in several areas.
Traffic jams were reported across the city, causing major inconvenience to commuters. BMTC buses were delayed, and many employees who had gone to work on Labor Day were unable to leave due to the rain.
The heavy downpour, accompanied by thunder and lightning, began on the evening of May 1, leading to waterlogging in many parts of the city. Residents expressed frustration over the standing water on roads, which severely hampered vehicular movement.
Road turns into river at Fayazabad area of Yelachanahalli Ward following moderate rain on Thursday late evening. Video-Gulab Pasha@BBMPCOMM,@Prahalladbs1,@BBMPAdmn,@DKShivakumar,@siddaramaiah,@NewIndianXpress,@XpressBengaluru,@mg_chetan,@aknisreekarthik,@ramupatil_TNIE pic.twitter.com/R9cbSUtARd
— Mohammed Yacoob (@yacoobExpress) May 1, 2025
