Donald Trump plans to revoke a license permitting Chevron to expand oil production in Venezuela, potentially impacting the company and the Venezuelan government. This policy change is part of Trump’s broader stance addressing illegal immigration and crime connected to Venezuela. The license is scheduled for renewal on March 1, 2023.

Former President Donald Trump announced his intention to revoke a license granted by the Biden administration, which allowed Chevron to expand its oil operations in Venezuela. This policy reversal could adversely affect both Chevron, which has significant investments in the region, and the Venezuelan government, which relies heavily on oil exports for revenue. Mr. Trump’s decision is set against a backdrop of strained U.S.-Venezuelan relations, particularly concerning illegal immigration and violent crime associated with Venezuelan nationals.

Trump’s statement on Truth Social did not specify Chevron but referred generally to a policy established on November 26, 2022, by the Treasury Department. This policy permitted Chevron to enhance its production capabilities in Venezuela. He indicated that this license is due for renewal on March 1 and highlighted issues regarding the Venezuelan government’s failure to comply with repatriating criminals to the U.S.

In conclusion, Donald Trump’s announcement to rescind a license allowing Chevron to operate more freely in Venezuela underscores the complex dynamics of U.S.-Venezuela relations. Such a move could significantly impact Chevron’s operations and Venezuela’s economy. Trump’s emphasis on crime and immigration may further complicate diplomatic relations as he seeks to tighten restrictions affecting the Venezuelan oil sector.

Original Source: www.nytimes.com

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