Trump Orders GOP Donor's Oil Company to Leave Venezuela

[Zorro]

Source: WSJ via Yahoo News

Oil magnate Harry Sargeant III is a GOP donor well known for his back-channel efforts to temper hostilities between the U.S. and Venezuela. On Friday, the Trump administration ordered his oil-trading company to leave the South American country.

Global Oil Terminals, part of a Florida conglomerate owned by Sargeant, lost authorization from the U.S. Treasury Department to work in Venezuela, as did Spanish oil-and-gas company Repsol and other foreign oil companies doing business there. Chevron previously received a similar notice.

The companies have until late May to wind down operations, escalating the Trump administration's campaign to isolate Venezuela, partly over frustration with its reluctance to quickly accept Venezuelan deportees.

Sargeant is known to play golf at Trump's Mar-a-Lago club one day and to jet down to Caracas the next. He has helped broker agreements aimed at deepening U.S. commercial engagement in Venezuela, which holds some of the world's largest reserves of oil and gas. Strongman Nicols Maduro calls Sargeant abuelo, or grandfather in Spanish.

https://finance.yahoo.com/news/trump-orders-gop-donor-oil-054800971.html

Read more: https://finance.yahoo.com/news/trump-orders-gop-donor-oil-054800971.html

---

Bullying the oil companies now. Wonder how that sets with them.

[underpants]

1. Will this affect gas prices?

[SARose]

8. Yes

See my post below.

[Ol Janx Spirit]

10. This actually seems unlikely to raise gas prices much if at all. Venezuela only produces about 1 million barrels

per day, while global demand is around 100 million barrels per day. It seems likely that Russia (surprise I know) and U.S. oil companies will be the biggest beneficiaries of this move as China, India, Spain, Italy, and Cuba turn elsewhere.
https://oilprice.com/Energy/Crude-Oil/Oil-Prices-Gain-On-Venezuela-Tariffs.html

[underpants]

20. Thanks.

[Walleye]

2. The man is crazy, now Venezuela, our enemy? Good Lord, how many enemies do we need in the world?

[Ol Janx Spirit]

9. Venezuela is most definitely not our friend. We even charged their dictator president with drug trafficking....

https://www.npr.org/2020/03/26/821933849/u-s-unseals-drug-trafficking-charges-against-venezuelas-president-maduro
It is hard to feel sorry for any US company losing business there...least of all a company run by anyone donating large sums to this President....

[angrychair]

17. For me it's a bigger issue

I don't give a shit about some Republican donor but it is a very fascist thing to do to control free trade and association like this.
This is about TSF controlling things than it is about how a dictator in another country runs things.

[snot]

13. The US has been trying to overthrow the V'n government for decades,

even back when they had a very popular, democratically-elected president.

[Lovie777]

3. Dictator ......

[tanyev]

4. Hmph! That's not why he donated all that money.

[UpInArms]

5. Cool

[Scrivener7]

6. He's biting many of the hands that feed him. I wonder how long that will last.

[Zorro]

11. Betraying his donors.

Betraying his supporters.

Betraying our neighbors.

Betraying our allies.

Betraying American democracy.

I see a pattern here.

[SARose]

7. Imposing Tariffs on Countries Importing Venezuelan Oil

Snip

On or after April 2, 2025, a tariff of 25 percent may be imposed on all goods imported into the United States from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties. Duties imposed by this order will be supplemental to duties on imports already imposed pursuant to IEEPA, section 232 of the Trade Expansion of 1962, section 301 of the Trade Act of 1974, or any other authority.

Snip

More

Match 24, 2025

Best fill up your tanks!

[underpants]

19. Thanks. Jesus third party tariffs. 🙄

[chowder66]

12. Trump and his cronies are starting to eat their own.

Just like Putin. This is a first step in to taking over their comrades companies or seizing their assets.
The richest will try to wipe out the rich until there are only a few and when those who are left say the wrong thing they will suddenly have an accident.

[Montauk6]

14. Anyone else catch that whiff of nationalization afoot?

[riversedge]

16. Trump: 'I'm a nationalist' ...

Trump: 'I'm a nationalist'

https://politi.co/2AoDWIO via @politico

[Montauk6]

22. Whup! THERE IT IS!

[riversedge]

15. Oky doky --we are packing our bags already.

[Grins]

18. "...ordered?" Really? NM

[0rganism]

21. The leopards have been dining well this week

Mmmm, there's no face quite so tasty as billionaire oligarch face. Simply delicious!