Venezuelan President Nicolás Maduro claims that Chevron’s exit will not impact oil production, asserting growth under his strategy. Opposition leader María Corina Machado supports U.S. sanctions, stating they hinder funding for repression. Analysts predict economic implications, including a potential slowdown in growth and increased inflation.
On Thursday, Venezuelan President Nicolás Maduro asserted that his country’s oil production would not diminish “not even a liter” despite the termination of Chevron’s export license by the United States. During his weekly television program, he expressed confidence in the potential for increased output under his “Absolute Productive Independence” initiative, dismissing the effects of U.S. sanctions implemented by President Donald Trump.
Maduro firmly stated that “Oil production will be maintained and will continue to grow,” emphasizing his commitment to Venezuelan industry and the people’s welfare. He remarked, “We will go forward, we will recover, we will grow, we will produce, and they will not touch the lives of the Venezuelan people.”
Following the U.S. government’s order for Chevron to cease operations in 30 days—an expedited timeframe—opposition leader María Corina Machado expressed support for the sanctions, claiming they would disrupt funding for Maduro’s repressive actions rather than public services. Machado alleged that Chevron’s activities had generated up to $4.5 billion for the regime in the previous year, which she stated was misused for state oppression and luxury for the elite.
In a virtual interview with the Financial Times, Machado lamented that oil revenues had not benefited public infrastructure like hospitals and schools but instead financed oppressive measures against Venezuelans. She emphasized, “The regime used the money that belonged to the Venezuelan people to fund repression against the Venezuelan people,” questioning the utilization of these funds.
Economic analysts at Ecoanalítica forecast a potential dip of Venezuela’s economic growth from 3.2% to 2% due to the loss of Chevron, predicting deterioration of the bolivar and escalating inflation, which reached 48% in 2024. The Trump administration’s actions represent a more severe challenge for Maduro’s governance, particularly in light of the controversial electoral victories cited in July 2024, amid allegations of widespread electoral fraud.
In conclusion, President Nicolás Maduro maintains that Venezuela’s oil production will remain unaffected by Chevron’s departure, emphasizing growth under his strategic plans. Opposition voices, notably María Corina Machado, argue that these U.S. sanctions are pivotal in stifling Maduro’s regime’s funding for repression, amidst concerns about economic repercussions and inflation. The evolving political dynamic continues to pose both challenges and opportunities for Venezuela’s future.
Original Source: en.mercopress.com
