Update: Possible 25% Tariff on Countries Importing Venezuela Petroleum
President Trump signed an executive order directing the Secretary of State to identify countries that could face additional tariffs of 25% as early as April 2. The potential tariffs would target nations that continue to import oil from Venezuela.
Read the full executive order here.
As of early 2025, several countries remain active importers of Venezuelan crude or refined petroleum. Based on recent data and trade patterns, the leading importers include:
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China: Venezuela's largest customer, accounting for more than 50% of its oil exports, with approximately 503,000 barrels per day (bpd) reported in early 2025.
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United States: Averaged imports of around 222,000 bpd in 2024. This figure is expected to decline in 2025 due to the expiration of certain U.S. licenses and new tariff considerations.
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India: Imported roughly 125,000 bpd as of early 2025.
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Spain: Imported about 75,000 bpd in 2024.
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Cuba: Received approximately 32,000 bpd in 2024.
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Brazil: Estimated to import 8–10% of Venezuela’s total oil exports in recent years.
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Turkey: Accounted for about 13–14% of Venezuela’s oil exports in 2023.
Other countries—such as Italy, Russia, Singapore, and Vietnam—also import Venezuelan oil, though in smaller or more irregular quantities.
The proposed 25% tariffs would be applied in addition to any existing measures, including those under Section 232, Section 301, and the International Emergency Economic Powers Act (IEEPA).