Trump has revoked oil concessions to Venezuela granted by Biden, citing non-compliance with electoral agreements. This affects Chevron’s operations in Venezuela. Trump criticized President Maduro’s regime for failing to meet conditions linked to oil transactions and supports an opposition leader claiming victory in upcoming elections. Experts await further guidance from the Treasury Department on this matter.
United States President Donald Trump has rescinded the oil concessions that were previously granted to Venezuela by his predecessor, Joseph Biden. This decision stems from Venezuela’s non-compliance with established electoral conditions and inadequate cooperation in deporting violent criminals. This revocation directly affects Chevron’s operations in Venezuela, which had received authorization under the Biden administration in 2022.
In summary, President Trump’s revocation of oil concessions to Venezuela, attributed to non-compliance and inadequate cooperation from the Maduro regime, has significant implications for the region and for companies like Chevron. The situation continues to evolve, with experts awaiting further decisions from the US Treasury Department by March 1. The political landscape remains complex, with ongoing support for opposition figures in Venezuelan politics and the continuing impact of US sanctions.
Original Source: en.mercopress.com
