Former President Donald Trump announced the cancellation of a deal permitting Chevron to operate in Venezuela, linking it to the country’s failure to accept deportees. Experts warn this could worsen Venezuela’s economic situation and lead to increased emigration. Trump’s move follows a diplomatic meeting with Venezuelan leader Nicolás Maduro, amidst issues of electoral integrity and ongoing sanctions affecting the nation.

Former President Donald Trump declared the termination of a Biden-era agreement that permitted Chevron to drill and refine oil in Venezuela. This revocation is largely due to Venezuela’s failure to accept deportees from the United States, hindering diplomatic agreements. According to projections, this cancellation could intensify Venezuela’s ongoing economic crisis and potentially increase the number of refugees fleeing the country.

This decision follows a meeting between Trump envoy Richard Grenell and Venezuelan President Nicolás Maduro, where six imprisoned Americans were repatriated to the U.S. Trump’s stance criticized Maduro’s administration for non-compliance with democratic norms and commitments related to deportation of criminals. The initial agreement, established under President Biden in 2022, was intended to provide up to $4 billion to Maduro’s government.

Trump’s announcement stated that he would revoke Chevron’s oil export license effective March 1, emphasizing that the Maduro regime did not honor agreed-upon conditions for deportations. Energy Secretary Chris Wright noted that such a decision aims to alleviate oil prices in the U.S. The cancellation reverses previous concessions made by the Biden administration intended to foster democratic elections in Venezuela.

Experts suggest that the cancellation is likely to exacerbate Venezuela’s difficulties, driving more citizens to migrate. Francisco Rodríguez, an authority in public and international affairs, asserted that U.S. sanctions disproportionately harm the Venezuelan population and fail to incite political reforms. He expressed that revoking oil licenses would inadvertently heighten the humanitarian crisis within Venezuela.

In the broader context, Trump’s decision is perceived as a critique of Biden’s approach to Venezuela. He denounced Biden’s strategy, claiming it undermines both U.S. interests and Venezuelan democratic aspirations. The Venezuelan leader, Maduro, recently faced accusations of electoral malpractices, leading Trump to recognize his opponent, Edmundo González, as the legitimate victor of the July 2024 presidential election. The situation remains fluid and closely monitored by international observers.

In conclusion, the cancellation of the Chevron oil deal by former President Trump signifies a critical stance against Maduro’s government regarding compliance with democratic processes and deportation agreements. This decision could further destabilize Venezuela’s economy, increasing the refugee crisis, and demonstrates the ongoing complexity of U.S. relations with Venezuela. Recognizing the implications, experts advocate for reconsidering sanctions that disproportionately affect Venezuelan citizens.

Original Source: san.com

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