President Trump has revoked the Venezuelan oil export license, citing Maduro’s slow response in repatriating deportees. He criticized Biden’s concessions to Maduro regarding oil trade and electoral terms. This revocation could affect Chevron’s operations in Venezuela as the country relies heavily on oil revenue.

On Wednesday, President Donald Trump announced the revocation of the oil export license granted to the Venezuelan government. Trump stated that Venezuela, under Nicolás Maduro, has failed to swiftly repatriate Venezuelan deportees from the U.S., which violated previously established agreements. He characterized this move as a response to unmet obligations by the Maduro regime regarding deportations and international electoral standards.

Trump criticized the concessions made by the Biden administration in November 2022, specifically regarding the oil transaction agreement and Venezuela’s electoral conditions. By issuing this revocation, he aims to reverse what he perceives as ineffective agreements, emphasizing the inadequate pace of Venezuelan deportations under Maduro’s regime.

The U.S. Treasury Department had recently renewed a license for Chevron, allowing it to operate in Venezuela, which serves as a critical revenue source for the Maduro government. Chevron’s production, approximately 220,000 barrels per day, constitutes about a quarter of Venezuela’s total oil output, estimated at 900,000 barrels daily. The cancellation of the license may significantly impact this flow of resources.

Trump’s decision to revoke the Venezuelan oil export license reflects ongoing tensions between the U.S. and Venezuela regarding deportations and compliance with international agreements. The move is framed as an effort to hold the Maduro regime accountable for its promises and could influence Chevron’s operations in the country, highlighting the complex interrelations of diplomacy, immigration, and energy security.

Original Source: www.miamiherald.com