Global Oil Terminals, owned by billionaire Trump ally Harry Sargeant, is among a raft of oil companies ordered to end operations in the country as part of the Trump administration’s campaign to isolate Caracas.

The Trump administration revoked permits and waivers allowing Western energy firms to operate in Venezuela, three people familiar with the issue said Saturday. The move further isolates Venezuelan President Nicolas Maduro from the world oil market.

Venezuela owes China’s banks about $10 billion, and its oil is about the only legal way it has to pay them back.

Imports of oil, gas and refined products were exempted from U.S. President Donald Trump’s sweeping new tariffs, the White House said on Wednesday.

The levies were seen as more aggressive than expected, with a 10 percent duty on all exports to the US and even higher rates on about 60 nations.

Russia reaped less money from oil taxes last month as production fell and global crude prices declined. Oil-tax proceeds dropped by more than 15% from a year earlier to 956.8 billion rubles ($11.4 billion),

The combination of lower oil prices and higher costs for essential materials like steel pipe threatens to squeeze domestic oil and gas producers.

Oil prices fell on Thursday as the decision by the OPEC+ group to speed up unwinding of oil output cuts in May compounded already heavy losses following U.S. President Donald Trump's announcement of sweeping new import tariffs.

Trump stokes trade war as world reels from tariff shock President Donald Trump's move to impose sweeping tariffs on U.S. imports sparked threats of retaliation on Thursday, as companies and governments rushed to count the costs from an escalating trade war that threatens to shake up global alliances.

Government acted in bad faith by not rerouting planes of 200 Venezuela nationals that continued to El Salvador, says DC judge - Anadolu Ajansı

A U.S. judge will hold a hearing on Thursday over whether the Trump administration violated his order temporarily blocking the deportation of alleged Venezuelan gang members under a rarely-invoked 18th century law.

Judge Edward M. Chen's ruling took aim at the Trump administration's claim that immigrants with Temporary Protected Status are a drain on the U.S.

A federal appeals court on Thursday temporarily paused a lower court order from last week that had handed a major victory to government workers and consumer advocates fighting President Donald Trump's attack on the Consumer Financial Protection Bureau.

Justice Department attorneys will appear before Judge James Boasberg on Thursday to make its case for why the Trump administration did not violate his orders halting the use of the Alien Enemies Act to deport Venezuelans the government has accused of being part of a gang.

A U.S. judge dismissed corruption charges against New York City Mayor Eric Adams on Wednesday, even as he said the Trump administration's argument that the case should be dropped because it was hindering the Democratic politician's help with an immigration crackdown "smacks of a bargain.

A federal judge agreed to let the U.S. Department of Justice end its prosecution of two former Cognizant Technology Solutions executives, the first time the department publicly abandoned a foreign bribery case since President Donald Trump halted enforcement of a key anti-bribery law.

If confirmed, Stanley Woodward would join a number of other former lawyers for President Trump who have been selected to key law enforcement positions.

A U.S. judge will hold a hearing over whether the Trump administration violated his order temporarily blocking the deportation of alleged Venezuelan gang members under a rarely-invoked 18th century law.