Trump Revokes Biden’s Oil Concessions to Venezuela Over Electoral Non-Compliance

President Trump has revoked oil concessions granted to Venezuela by Biden, citing non-compliance with electoral conditions and failure to deport violent criminals. This impacts Chevron’s activities in Venezuela. Maduro’s administration faces opposition from the U.S., which supports exiled political figures. Venezuelan officials condemn the revocation, anticipating economic ramifications. Experts await further decisions from the U.S. Treasury Department regarding sanctions.

U.S. President Donald Trump has officially revoked the oil concessions that were granted to Venezuela by former President Joseph Biden. This measure was taken due to non-compliance with electoral conditions and a lack of cooperation regarding the deportation of violent criminals. The move significantly affects Chevron’s operations in Venezuela, which had been authorized by Biden in 2022.

In a statement on his social media platform, Truth Social, Trump accused the Maduro regime of failing to meet the conditions outlined in their agreement, particularly concerning Venezuelan irregular migrants. He emphasized that these unmet electoral conditions led to his decision to rescind the concessions, effective March 1.

Washington does not acknowledge Nicolás Maduro’s reelection for a third term and instead supports Edmundo González Urrutia, an exiled politician who claims victory in the upcoming elections. González Urrutia was present at Trump’s inauguration on January 20.

Venezuelan Executive Vice President Delcy Rodríguez criticized the decision, labeling it as “harmful and inexplicable,” warning that it could severely impact macroeconomic stability, including income and exchange rates. She quoted Uruguayan independence figure José Gervasio Artigas, stating, “Let us expect nothing but from ourselves.”

Experts are awaiting guidance from the U.S. Treasury Department’s Office of Foreign Assets Control regarding the situation. Earlier this year, most sanctions were reinstated by Biden due to Maduro’s failure to adhere to electoral commitments, yet individual licenses were still granted to certain oil companies, including Chevron.

Additionally, the Trump administration previously sent Richard Grenell to Caracas, resulting in the return of six U.S. nationals held by the Venezuelan authorities and a promise that Venezuelan irregular migrants expelled from the U.S. would be welcomed back.

In summary, President Trump has reversed Biden’s oil concessions to Venezuela, citing non-compliance with electoral agreements and issues regarding deportation of violent criminals. This decision has significant implications for U.S.-Venezuela relations and the operations of oil companies such as Chevron. Rodríguez’s comments reflect the Venezuelan government’s strong opposition to the revocation, underscoring the ongoing tensions between the two nations. As developments unfold, attention will turn to future actions from the U.S. Treasury regarding sanctions.

Original Source: en.mercopress.com