Venezuela President Nicolas Maduro said on Tuesday (April 8) he had signed an economic emergency decree, pending national assembly approval, Reuters reports.
The leader stated during a televised conference that the decree aims to preserve the country's economic balance in the face of tariffs and the cancellation of licenses.
Last month, the administration of U.S. President Donald Trump began to suspend many authorizations linked to oil companies operating in Venezuela, including the U.S.-based Chevron, Italy’s Eni and the Spain’s Repsol, giving them until May 27 to liquidate their operations and exports.
The United States also announced the application of secondary tariffs for external sales of crude oil and gas.
