Insignia Consultants | Trump to hit Venezuelan oil buyers with tariff, extends Chevron's wind down
Trump to hit Venezuelan oil buyers with tariff, extends Chevron's wind down
3 days ago
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WASHINGTON/HOUSTON March 24 (Reuters) - U.S. President Donald Trump on Monday issued an executive order declaring that any country buying oil or gas from Venezuela will pay a 25% tariff on trades with the U.S., while his administration extended a deadline for U.S. producer Chevron (CVX.N), opens new tab to wind down operations in the South American country.
Trump's new policy relieves some pressure on Chevron to quickly exit Venezuela after the U.S. Treasury Department on March 4 gave it 30 days to wind down operations. Trump had issued the initial wind-down after he accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns.
