The White House, Washington, DC. Image by WASHINGTON – President Donald Trump announced Monday, March 24, that the United States will impose a 25% tariff on countries purchasing Venezuelan oil or gas—escalating tensions in international trade.
In a post on the social media platform Truth Social, Trump accused Venezuela of being “very hostile” toward the United States and warned that starting April 2, countries purchasing Venezuelan oil must pay tariffs on all their trade with the U.S.
The new tariffs, set to take effect on April 2, introduce a “secondary tariff” that will apply to transactions with the U.S. involving Venezuelan petroleum products.
According to the U.S. administration, the tariff aims to pressure Venezuela while discouraging trade partners from engaging with the South American oil industry.
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But do these new tariffs impact El Salvador?
The Central Reserve Bank (BCR) reported that in 2024, El Salvador imported $34,965 worth of Venezuelan petroleum oils, which covers various petroleum derivatives but excludes crude oil.
This 2024 figure marks a 133.2% increase from the $14,990 recorded in 2023.
El Salvador did not import petroleum or its derivatives from Venezuela between 2019 and 2022, following a steady decline in purchases.
The decline in Venezuelan oil imports coincided with the waning influence of Alba Petróleos, a mixed-economy company founded in 2006 through an alliance between FMLN municipalities and a subsidiary of Venezuela’s PDVSA.
The Alba Petróleos company has since been investigated by El Salvador’s Attorney General’s Office (FGR) for allegedly laundering more than $438.1 million between 2010 and 2017.
Venezuela isn’t one of El Salvador’s principal oil suppliers right now. In the first two months of 2025, El Salvador imported $368.1 million in oil and petroleum products, with nearly 90% coming from the U.S. Other suppliers include Ecuador, Panama, and Canada.
Given these figures, the new U.S. tariff will unlikely significantly impact El Salvador’s energy sector.
