Trump, who is seeking to force out authoritarian President Nicolas Maduro, has also announced plans for 25 percent tariffs on imports from any country buying Venezuelan oil and gas.

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 U.S. Treasury has revoked licenses allowing French oil firm Maurel & Prom and Italian firm Eni to operate in Venezuela and receive oil from PDVSA as payment, further tightening sanctions on Venezuela's oil industry.

French oil group Maurel et Prom said on Monday that the United States had revoked its licence to operate in Venezuela, sending its shares plunging 15% in early trade.

Donald Trump announced a 25 percent tariff on countries buying Venezuelan oil—a move that 'ironically' could help Moscow.

President Donald Trump said countries that purchase oil and gas from Venezuela will face a 25% tariff on the trade those nations have with the U.S. Trump said the tariff will take effect April 2. The president accused Venezuela of sending gang members to the U.S.

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.

President Donald Trump on Monday announced the United States will impose a 25% tariff on the imports of any country involved in Venezuela's oil industry.