Trump’s energy sanctions strike again: Venezuela’s oil exports plummet 11.5%—here’s why it matters

Illegal sanctions have been a central focus of U.S. foreign policy towards Venezuela, and have shaped a network of restrictions that has significantly impacted the country’s economy. President Donald Trump’s recent March 24 executive order adds a new layer of pressure by imposing 25% tariffs on states that buy Venezuelan oil, and conditions the flow of foreign exchange as well as the performance of the energy sector.

Venezuela Condemns False Claims About Oil Production From Reuters

Caracas (OrinocoTribune.com)—Venezuelan Oil Minister Delcy Rodríguez has made a statement condemning a number of “lies” that have been told against Venezuela by the UK imperial media corporation Reuters. In a message published via social media this Tuesday, April 1, Rodríguez accused the UK-based agency of joining a smear campaign against the country, in response to a Reuters report that spread false information about Venezuela’s oil industry. “…

Following Donald Trump’s decisions to revoke the license of U.S. oil company Chevron, which was given the deadline to leave Venezuela before May 27, and the application of 25 percent of “subsidiary money” to countries buying Venezuelan crude oil, the concern has risen in the Caribbean country. By TIME Experts and analysts believe that returning to the policy of maximum pressure on the regime – as Trump did during his first term – will not have a…

The increase in tension between Caracas and Washington also affects the island The oil tanker Dhalkut has been sailing around Curaçao since November 2024 without permission to dock in Bullenbaai. The ship, which transports crude oil and petroleum products, has been waiting for the necessary permits for months. The delay seems to be related to the US sanctions on Venezuela, which have increasingly hampered trade with the country. Experts warn tha…

Trump’s energy sanctions strike again: Venezuela’s oil exports plummet 11.5%—here’s why it matters

For decades, Venezuela sat atop the world’s largest proven oil reserves—a staggering 303 billion barrels—yet socialist mismanagement, corruption and U.S. sanctions have turned its energy sector into a shadow of its former self. Now, under President Donald Trump’s renewed sanctions regime, Venezuela’s oil exports have taken another major hit, dropping 11.5% in March as Washington tightens the screws on Nicolás Maduro’s regime.The latest crackdown…

Summary: The dollar on the black market has crossed the 100 bolivars mark, 50% above the official rate of 69.5 bolivars Donald Trump's revocation of Chevron's licence, effective May 27, threatens 25% of the country's oil production Merchants, forced to use the official rate, suffer significant economic losses Demand for dollars has increased by 40% while Venezuelans seek refuge value Interannual inflation is estimated at 117% according to indepe…