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Trump’s Decision to Tax Buyers of Venezuelan Oil Boosts Markets
International oil prices rose on Monday, driven by the decision of United States President Donald Trump to impose tariffs on any country that buys oil and gas from Venezuela.
In London, the price of a barrel of North Sea Brent crude for May delivery increased by 1.33%, reaching $73.00.
In New York, the barrel of West Texas Intermediate (WTI) for delivery in the same month rose by 1.22%, quoted at $69.11.
25% Tariff for Countries Buying Venezuelan Oil
Determined to exert economic pressure on the Venezuelan socialist government, with which he maintains significant differences, Trump announced on Monday that countries that buy gas or oil from Venezuela will be subject to customs tariffs of 25% on all their products entering the United States from April 2nd.
The Republican magnate, who has been increasing the number of deportations of undocumented immigrants from his country (including many Venezuelans), justified the implementation of these customs tariffs by writing on his social network Truth Social that the government of Caracas was “very hostile” towards the United States.
Analyst Highlights Complex Ramifications
“The situation is explosive because it has more complex ramifications” than just the export of Venezuelan oil, involving “geopolitical, migratory and energy” issues, John Plassard of Mirabaud told AFP.
Resumo em Português:
Os preços internacionais do petróleo subiram devido à decisão dos EUA de impor tarifas sobre países que comprarem petróleo e gás da Venezuela. O Brent subiu 1,33% para US$ 73,00 em Londres, e o WTI aumentou 1,22% para US$ 69,11 em Nova York. Trump justificou a medida alegando hostilidade do governo venezuelano e impôs tarifa de 25% sobre produtos de países compradores a partir de 2 de abril. Analista destaca as complexas ramificações geopolíticas, migratórias e energéticas da situação.
Resumen en Español:
Los precios internacionales del petróleo subieron debido a la decisión de EE.UU. de imponer aranceles a los países que compren petróleo y gas de Venezuela. El Brent subió un 1,33% a 73,00 dólares en Londres, y el WTI aumentó un 1,22% a 69,11 dólares en Nueva York. Trump justificó la medida alegando hostilidad del gobierno venezolano e impuso un arancel del 25% sobre los productos de los países compradores a partir del 2 de abril. Un analista destaca las complejas ramificaciones geopolíticas, migratorias y energéticas de la situación.
