Venezuela national assembly greenlights economic emergency decree

FILE PHOTO: Venezuelan President Nicolas Maduro holds a meeting by video with Russian President Vladimir Putin (not pictured) in Caracas, Venezuela March 14, 2025. Miraflores Palace/Handout via REUTERS/File Photo

(Reuters) -Venezuela's national assembly on Thursday passed a decree proposed by President Nicolas Maduro's government declaring a state of economic emergency in response to U.S. sanctions and tariffs.

In March, the administration of U.S. President Donald Trump began suspending authorizations for oil companies operating with Venezuela's state-owned PDVSA and imposed secondary tariffs on crude oil and gas exports.