Trump Plans to Revoke Chevron’s Oil License in Venezuela

Donald Trump plans to revoke a Biden-era oil license for Chevron in Venezuela, potentially impacting the company and the Venezuelan government. This license allowed for increased oil production and export, and it is set for renewal on March 1. Trump’s justification includes concerns over Venezuelan actions regarding criminals entering the U.S.

Former President Donald Trump announced on Wednesday his intent to rescind a license granted by the Biden administration that allowed Chevron to expand its oil production and export operations in Venezuela. This potential action may adversely affect both Chevron and the Venezuelan government during a time of economic challenge for the South American nation. The license, which was initially awarded by the U.S. Treasury Department on November 26, 2022, is set to expire on March 1, 2024, necessitating discussions surrounding its renewal. Trump highlighted his decision by referencing concerns about Venezuela’s handling of violent criminals who have allegedly entered the United States, indicating that agreements regarding their return have not been fulfilled.

In summary, Donald Trump’s announcement to revoke the oil license highlights his administration’s commitment to exerting pressure on the Venezuelan government and reflects ongoing tensions surrounding U.S. foreign policy. The potential impact on Chevron’s operations underscores the complex relationship between energy companies and geopolitical dynamics. As the license approaches its renewal date, further developments will be critical to watch.

Original Source: www.nytimes.com