Trump’s administration is withdrawing a permit that allowed Chevron to export Venezuelan oil, citing the Maduro government’s failure to uphold democratic practices. The revocation is seen as a response to the unfair presidential elections last year and is expected to impact Venezuela’s struggling economy significantly.
President Donald Trump has announced the termination of a U.S. permit that allowed Chevron Corp. to pump and export oil from Venezuela, marking the end of a financial lifeline for the country. This decision points to the Maduro administration’s failure to meet democratic conditions for elections held last July, as well as delays in deporting immigrants back to Venezuela.
The cessation of the oil export permit reflects the U.S. government’s discontent with the Maduro regime’s democratic practices. The move is anticipated to further strain Venezuela’s economy, which has already suffered from years of mismanagement and sanctions.
Original Source: apnews.com
