Trump Revokes Chevron’s License to Export Venezuelan Oil, Reversing Biden Policy

Former President Donald Trump has announced the cancellation of the Biden administration’s oil export concessions to Venezuela, affecting Chevron. The termination of this license is effective March 1 and reflects Trump’s stance that the Maduro regime has failed to meet conditions for free elections. This decision alters the U.S. approach to Venezuela’s foreign relations established previously.

In a significant policy shift, former President Donald Trump announced on Wednesday the termination of the concessions made by the Biden administration intended to facilitate free elections in Venezuela. This decision involves withdrawing the license that permitted Chevron, a U.S. oil company, to carry out oil production and exports within Venezuela. The revocation is scheduled to take effect on March 1, marking a departure from the diplomatic strategies established over previous years.

Trump’s announcement on social media pointed to the failure of the Maduro regime to fulfill the conditions set forth by the Biden administration in 2022. He stated, “I am therefore ordering that the ineffective and unmet Biden ‘Concession Agreement’ be terminated as of the March 1st option to renew.” This move reflects Trump’s broader intention to recalibrate foreign policy concerning Venezuela.

Secretary of State Marco Rubio, during his tenure as a senator, had previously expressed reservations about the Biden concessions aimed at persuading Venezuelan President Nicolás Maduro to allow free elections. Despite such efforts, observers of the electoral process in the country have reported widespread fraud during last year’s presidential elections.

In summary, Donald Trump’s decision to revoke Chevron’s license for oil production and exports in Venezuela reverses recent policies of the Biden administration. This action signals a renewed stance against the Maduro regime, emphasizing unmet conditions for promoting free elections. The implications of this move remain to be seen in the broader context of U.S.-Venezuela relations.

Original Source: www.eenews.net