US Revokes Oil Licenses and Imposes Tariffs to Pressure Venezuela

The United States has revoked licenses for major oil companies operating in Venezuela and introduced a 25% tariff on countries importing its oil, intensifying economic isolation of Nicolás Maduro's government.

• The US has revoked operational licenses for Chevron, Repsol, Maurel & Prom, and Eni, with companies required to cease activities in Venezuela by May 27, 2025.
• President Donald Trump has imposed a 25% tariff on countries purchasing Venezuelan oil, further targeting the country's key exports.
• The sanctions are part of a broader US strategy to isolate Nicolás Maduro's government, whose legitimacy remains contested following disputed elections.
• Venezuela's oil production, already at historic lows of around one million barrels per day, is expected to face further declines due to the sanctions.
• The loss of foreign energy companies may disrupt Venezuela's energy infrastructure, worsening its economic crisis and risking further blackouts.

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