The Trump administration is intensifying its economic offensive against Venezuela by pressuring companies like Chevron and Repsol to terminate operations. Following Chevron’s license revocation, officials issued 30-day notices to several firms. Criticism of Maduro’s regime aligns with Trump’s commitment to reverse previous concessions, with Venezuelan leaders expressing counterarguments regarding impacts on both nations.
The Trump administration plans to enhance its economic offensive against Venezuela, compelling more companies to halt their operations within the country. Following reports from Bloomberg, officials have warned several firms of forthcoming license revocations, giving them a 30-day notice to cease operations. French oil producer Etablissements Maurel & Prom SA and Spanish company Repsol are highlighted among those affected.
This decision follows the formal revocation of Chevron’s operating license in Venezuela, effective from late February, with a deadline of April 3 for the company to discontinue all activities. Chevron’s production, which constituted about 20% of its overall output, has played a significant role in sustaining Venezuela’s struggling economy.
Critics believe that Chevron’s continued operations support a regime characterized by authoritarian practices and electoral fraud. Trump expressed disapproval of Maduro’s governance, citing unfulfilled electoral reforms and a lack of timely repatriation of Venezuelan migrants from the U.S.
In a statement, Trump asserted, “We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro… which have not been met by the Maduro regime.” This reflects the administration’s stance to tighten sanctions on oil transactions and electoral conditions within Venezuela, particularly in light of Maduro’s perceived failures.
Vice President Delcy Rodríguez condemned the U.S. decision, claiming it aims to harm the Venezuelan populace and risks damaging America’s legal standing in international investments. She argued that the sanctions against Chevron adversely affect not only Venezuelans but also the U.S. and its businesses.
The U.S. expands sanctions against Venezuela, pressuring firms like Chevron, Repsol, and Maurel & Prom to cease operations. This policy aims to undermine Maduro’s regime, which Trump criticizes for failing to uphold electoral promises. Reactions from Venezuelan officials highlight concerns over the broader implications for U.S.-Venezuelan relations and American legal standing on international investments. The ongoing sanctions and repercussions indicate a significant shift in U.S. foreign policy.
Original Source: www.inkl.com
