President Trump has announced the reversal of oil transaction concessions to Venezuela, citing unmet electoral commitments from President Maduro and concerns over the repatriation of Venezuelan criminals. This decision affects a previous agreement made under the Biden administration, which sought to ease restrictions on U.S.-Venezuelan financial transactions. Venezuelan officials have criticized this move as harmful to both countries.
U.S. President Donald Trump announced the reversal of concessions related to the oil transaction agreement with Venezuela, which had been established under the Biden administration. This decision comes in light of Venezuelan President Nicolas Maduro’s failure to meet electoral conditions and concerns regarding the inadequate repatriation of violent undocumented Venezuelan criminals entering the United States. In his statement on Truth Social, Trump emphasized that he would be terminating the ineffective agreement, effective March 1, 2023.
In conclusion, President Trump has chosen to revoke concessions on the oil transaction agreement with Venezuela, stoked by dissatisfaction with the Maduro regime’s actions and the pace of criminal repatriation. This decision marks a significant shift in U.S.-Venezuela relations, with implications for the oil industry and international agreements. The Venezuelan government has criticized this action as detrimental to both nations.
Original Source: www.mid-day.com
