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The Trump administration is re-imposing sanctions and introducing new tariffs on Venezuela’s oil and gas industries. This move is intended to increase pressure on the Venezuelan government amid ongoing political tensions.
The Venezuelan government has responded by stating it is being subjected to an illegal economic war but asserts that it is prepared to withstand the challenges. Officials emphasize their readiness to face external pressures and maintain the nation’s sovereignty.
The threatened tariffs could significantly impact international buyers of Venezuelan oil, potentially disrupting global oil markets. Countries reliant on Venezuelan crude may need to seek alternative sources, which could lead to shifts in global energy dynamics and affect economies worldwide.
