Trump has announced the end of Chevron’s oil operations in Venezuela, criticizing the Maduro regime for failing to meet agreements related to oil transactions and the repatriation of illegal immigrants. Venezuelan officials have condemned the decision, claiming it will harm economic interests. The U.S. Secretary of State supports Trump’s move, aiming to eliminate Biden-era concessions that funded Maduro’s government.
Former President Donald Trump announced the termination of Chevron’s oil agreement with Venezuela, reversing a decision made during the Biden administration. In his statement on Truth Social, Trump criticized Venezuelan President Nicolas Maduro for failing to meet specific agreements regarding oil transactions and the repatriation of violent criminals sent to the U.S. He stated, “We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro… and also having to do with Electoral conditions within Venezuela, which have not been met by the Maduro regime.”
Trump set the termination date for the agreement to March 1, expressing his dissatisfaction with the arrangement’s inefficacy. He emphasized that the Biden administration’s agreement was not being upheld by Maduro’s government, which he characterized as a failure. Venezuelan Vice President Delcy Rodriguez responded to the decision, calling it an “inexplicable” and damaging sanction against Chevron, a vital player in Venezuela’s oil sector.
The Secretary of State, Marco Rubio, supported Trump’s stance on X, indicating that he would push for the termination of all oil licenses provided during the Biden era, which he claims have financially supported Maduro’s regime. Under this agreement, Chevron exports approximately 240,000 barrels of crude oil daily, equivalent to more than one-quarter of Venezuela’s overall oil output. Trump, since his return to office, has emphasized that the U.S. is not reliant on Venezuelan oil and hinted at further actions against Chevron’s licenses.
In summary, Trump’s decision to terminate Chevron’s oil agreement with Venezuela is a direct reversal of Biden’s policies, aimed at holding the Maduro regime accountable. The former administration’s criticism centers on unmet agreements and concerns regarding U.S. security. As oil exports remain critical for Venezuela, the implications of this decision could significantly impact both countries’ economic relationships and policy directions moving forward.
Original Source: www.foxbusiness.com
