Trump has stated he will reverse oil transaction concessions with Venezuela made under Biden’s administration due to unmet electoral conditions and failure to return criminals. The move reinstates previous sanctions, especially affecting Chevron. Venezuelan officials have criticized the decision for harming U.S. interests.
U.S. President Donald Trump announced he would reverse the concessions related to oil transactions with Venezuela that were made by the Biden administration, due to unmet electoral conditions set forth by President Nicolás Maduro. Trump highlighted that the Maduro regime’s failure to expeditiously return violent criminals to Venezuela contributed to his decision, which he communicated through a post on Truth Social.
The concessions initially aimed at loosening restrictions on financial transactions in Venezuela’s oil sector were part of efforts to facilitate negotiations for free and fair elections. However, sanctions were reinstated when Maduro obstructed opposition candidate María Corina Machado from participating in the elections. Trump emphasized that he would not agree to the renewal of this limited authorization starting March 1.
Venezuelan Vice President Delcy Rodriguez condemned Trump’s decision, labeling it harmful and inexplicable. She argued that the sanctions against U.S. company Chevron would inadvertently harm both Venezuelans and American interests, as well as undermine the security of international investments in the U.S.
Trump’s announcement to reverse oil transaction concessions with Venezuela underscores ongoing tensions between the U.S. and the Maduro regime. The decision reflects a response to both electoral irregularities in Venezuela and security concerns regarding undocumented criminals. Moreover, Venezuelan officials have criticized the implications of these sanctions for U.S. businesses and international investment stability.
Original Source: www.tribuneindia.com
