Venezuelan authorities have announced their intention to continue cooperation with foreign oil and gas companies despite new sanctions imposed by the United States. Caracas has vehemently rejected the American restrictions, considering them illegal interference in its sovereign affairs. According to local sources, the country's government is ready to ignore the revocation of licenses issued by the United States to transnational corporations and calls on partners to adhere to previously concluded contracts. The statement was a response to the latest steps by the Donald Trump administration aimed at tightening economic pressure on Venezuela.

Earlier, Washington notified companies such as Chevron and Italy's Eni about a ban on operations with the Venezuelan side. From April 2, 2025, additional measures will come into force: the United States will impose 25 percent duties on the purchase of oil and gas from Venezuela for third countries that simultaneously do business with the American market. According to the White House, these steps should increase the isolation of Caracas and undermine the financial base of the Nicolás Maduro regime. However, the Venezuelan authorities insist that foreign partners do not need US permission to work in the country. Vice President Delcy Rodríguez emphasized that all contracts will be carried out in strict accordance with national legislation, and extraterritorial sanctions have no legal force in Venezuela.

Caracas’s stance reflects a long-running confrontation with Washington that has escalated since Donald Trump returned to power in January 2025. Venezuela, which has the world’s largest oil reserves, remains a major player in the energy market despite years of sanctions and a domestic crisis. The country’s authorities stress that they are ready to protect their economic interests and maintain cooperation with partners including China, India and Turkey, which continue to buy Venezuelan oil in defiance of American restrictions.

The conflict over Venezuela’s oil sector is gaining momentum amid recent events. In March 2025, the Trump administration already revoked the licenses of several companies operating in the country, forcing Chevron to suspend production at some fields. According to Reuters, this decision reduced Venezuelan oil exports by 15% in the first quarter of the year, but Caracas quickly redirected supplies to Asia. India, for example, increased imports by 20%, becoming a key buyer, allowing Venezuela to maintain revenues at $12 billion a year despite pressure from the United States.

Experts say the new tariffs could make things tougher for countries dependent on Venezuelan energy, but are unlikely to halt trade entirely. China, Venezuela’s largest creditor, has already pledged to continue cooperation, calling the U.S. sanctions “economic blackmail.” Turkey, for its part, has expanded its oil purchases through intermediaries, which have been made possible by the use of shadow schemes and barter payments. These actions highlight the limited effectiveness of unilateral U.S. measures in a global market.