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Home Steel News Venezuela condemns US tariff on oil and gas buyers
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Venezuela condemns US tariff on oil and gas buyers

26 Mar 2025 15:13 reported by Joy Liu

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Venezuelan Foreign Minister Yvan Gil said on March 24 that the US’ decision to impose a 25% tariff on countries purchasing Venezuelan oil and gas is illegal and arbitrary.

Gil condemned the measure as a violation of international trade rules, particularly the most-favored nation principle and the prohibition of quantitative restrictions under the GATT. Venezuela denounced the US for disrupting the global economic order and vowed to take appropriate action through international organizations.

On the same day, US President Donald Trump announced the tariff on social media, citing Venezuela’s "hostility" toward the US. The tariff is set to take effect on April 2.

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