The Trump administration is likely to order more companies, including Etablissements Maurel & Prom SA, to discontinue operations in Venezuela, amplifying pressure on President Maduro after Chevron was instructed to withdraw. The U.S. Treasury may soon revoke operational waivers, potentially impacting Venezuela’s economy significantly.
The Trump administration is prepared to instruct additional companies to cease operations in Venezuela as pressure mounts on President Nicolas Maduro. Following the directive to Chevron Corp. to halt its activities in the country, officials have communicated to companies like French oil producer Etablissements Maurel & Prom SA that they must conclude their Venezuelan operations within 30 days once the U.S. revokes their operational waivers.
The Trump administration’s impending actions to restrict companies’ operations in Venezuela are poised to significantly impact the nation’s economy, chiefly by targeting key oil producers. These developments highlight the administration’s strategy to negotiate democratic reforms and migrant acceptance from Venezuela while emphasizing the critical role of oil revenues in stabilizing the Venezuelan economy. The situation remains fluid, with potential changes influenced by ongoing diplomatic discussions.
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