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China’s Purchases Stall After Trump’s Tariff Threat on Buyers of Venezuelan Oil

  • China's oil purchases from Venezuela have stalled after U.S. President Donald Trump threatened 25% tariffs on imports from countries buying Venezuelan oil, with traders awaiting guidance from Beijing on future purchases.
  • Chinese Foreign Ministry Spokesperson Guo Jiakun stated that the U.S. Is abusing unilateral sanctions, which China opposes, suggesting such actions inflict losses on American businesses.
  • Traders in China are cautious about entering the Venezuelan oil market due to the uncertainty caused by U.S. Sanctions, impacting their purchasing decisions.
  • Venezuelan oil imports by China account for about 503,000 barrels per day, representing approximately 55% of Venezuela's total oil exports, primarily sold under different names after transshipment.
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El Economista broke the news in on Tuesday, March 25, 2025.
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