Trump Terminates Chevron’s Oil Agreement with Venezuela, Citing Unmet Terms

Donald Trump has announced the termination of Chevron’s oil agreement with Venezuela, citing President Maduro’s failure to uphold the terms of the deal. He criticized the previous Biden administration’s concessions, emphasizing concerns over criminal repatriation. Venezuelan officials denounced Trump’s decision, while U.S. Secretary of State Marco Rubio indicated plans to eliminate Biden-era oil licenses supporting Maduro’s regime.

Former President Donald Trump has announced the termination of Chevron’s oil agreement with Venezuela, reversing concessions granted by the Biden administration. In a detailed post on Truth Social, Trump claimed that Venezuelan President Nicolás Maduro failed to comply with the terms regarding not only oil transactions but also electoral conditions. He emphasized that the Venezuelan regime had not sufficiently repatriated violent criminals sent to the United States, breaching their agreement.

Trump stated, “We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement,” adding that the ongoing violations necessitated the immediate termination of the ineffective agreement. He ordered that it be rescinded effective March 1 to prevent further financial support to Maduro’s regime.

Venezuelan Vice President Delcy Rodriguez criticized Trump’s decision, labeling it as “inexplicable” and a reflection of U.S. failure. Rodriguez expressed concern that the sanctions imposed on Chevron were detrimental and unwarranted, undermining economic relations.

U.S. Secretary of State Marco Rubio supported Trump’s decision and indicated plans to dismantle all Biden-era concessions related to oil and gas licenses that had allegedly bolstered Maduro’s regime. Chevron currently exports approximately 240,000 barrels of oil daily from Venezuela, a significant portion of the nation’s production.

Trump’s decision to terminate Chevron’s agreement with Venezuela marks a significant shift in U.S. foreign policy, aiming to reinforce sanctions against the Maduro government. The administration’s stance reflects a broader strategy to distance the U.S. from dependence on Venezuelan oil while holding the Maduro regime accountable for unmet agreements.

Original Source: www.foxbusiness.com