The U.S. announcement that Washington will impose a 25% tariff on any country that purchases Venezuelan oil or gas has quickly made commercial dealings with Venezuela’s oil industry a highly toxic proposition,

The president plans to wield tariffs like financial sanctions, ordering that countries that buy Venezuelan oil have tariffs put on their exports to the United States.

U.S. President Donald Trump on Monday issued an executive order declaring that any country buying oil or gas from Venezuela will pay a 25% tariff on trades with the U.S., while his administration extended a deadline for U.