President Trump has declared the termination of the Biden-era ‘Concession Agreement’ with Venezuela, attributing the decision to the Maduro regime’s delays in deportation of criminals. He aims to reverse concessions made regarding oil production agreements with Chevron while emphasizing concerns over electoral conditions in Venezuela.

President Donald Trump announced the termination of the Biden-era ‘Concession Agreement’ with Venezuela due to the country’s slow response in repatriating deportees. In a post on Truth Social, Trump stated, “I am therefore ordering that the ineffective and unmet Biden ‘Concession Agreement’ be terminated as of the March 1st option to renew.” He emphasized his intention to reverse concessions that had been made in an oil transaction agreement established on November 26, 2022.

This oil agreement allowed Chevron to resume oil production in Venezuela, which possesses the world’s largest oil reserves. However, U.S. sanctions and a lack of investment have severely hampered Venezuela’s oil production capabilities. While Trump refrained from specifically mentioning Chevron in his announcement, Reuters noted that no additional licenses were issued on the day the agreement was made.

Trump criticized President Nicolás Maduro’s regime for failing to uphold electoral conditions and not swiftly returning violent criminals to the United States, as previously agreed. He stated, “Additionally, the regime has not been transporting the violent criminals that they sent into our Country (the Good Ole’ U.S.A.) back to Venezuela at the rapid pace that they had agreed to.”

In summary, President Trump has decided to terminate the Concession Agreement with Venezuela, citing the regime’s failure to expedite deportation processes. He criticized the Biden administration’s concessions, particularly in regard to oil production agreements with Chevron. The interconnection of U.S.-Venezuela relations remains delicate, impacted by sanctions and political conditions.

Original Source: www.news10.com

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