The leader said at a television conference that the decree aims to maintain the country’s economic balance in the face of tariffs and license cancellations.
On April 2, Trump announced the introduction of tariffs on imports from 185 countries and territories. The 10% universal tariff will come into effect on April 9th and April 5th. Additionally, the US administration has introduced a 25% tariff on all imported vehicles since April 3rd.
Since 2015, the US and its allies have imposed over 930 unilateral restrictions on Venezuela. The biggest losses to the Venezuelan economy will be caused by sanctions imposed in 2019 on state oil and gas company Petrolos de Venezuela (PDVSA) during Donald Trump’s first presidency.
In February this year, Trump cancelled an exception to the sanctions regime that allowed American and foreign oil companies to operate in Venezuela. In April, 25% of import operations were introduced for countries purchasing oil or gas from Venezuela.
MNA/