Donald Trump has announced the termination of Chevron’s oil operating agreement in Venezuela, citing President Nicolás Maduro’s failure to uphold the terms of the agreement established during the Biden administration. This decision has drawn criticism from Venezuelan officials and reflects Trump’s continued stance against the Maduro regime.
Former President Donald Trump has announced a termination of the agreement that permitted Chevron to operate in Venezuela, reversing a decision made during President Biden’s administration. In a statement on Truth Social, Trump criticized Venezuelan President Nicolás Maduro for failing to adhere to the terms of the 2022 oil transaction agreement, specifically concerning electoral conditions within Venezuela and the deportation of violent criminals back to the country.
Trump stated, “We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro,” and declared that the Biden-era concession agreement would be terminated as of March 1, when it was set to renew. The decision provoked a response from Venezuelan Vice President Delcy Rodriguez, who characterized it as “inexplicable” and detrimental to U.S.-Venezuela relations.
U.S. Secretary of State Marco Rubio later emphasized on social media that there would be further foreign policy measures to end all oil and gas licenses granted during Biden’s tenure, which he believes have unjustly supported Maduro’s regime. Chevron plays a significant role in Venezuela’s economy, exporting approximately 240,000 barrels of oil daily, which constitutes more than a quarter of the nation’s total production.
Since resuming office, Trump has maintained that the United States does not require Venezuelan oil and has hinted at the possibility of rescinding Chevron’s operating license, in line with his previous administration’s “maximum pressure” campaign against Maduro’s government, primarily through sanctions targeting Venezuela’s energy sector.
In summary, Donald Trump’s recent decision to terminate Chevron’s operating agreement in Venezuela underscores a significant shift in U.S. policy toward the Maduro regime. This move is based on allegations of unmet responsibilities by Venezuela, specifically concerning the deportation of criminals and electoral guarantees. The implications of terminating this agreement, particularly for U.S.-Venezuela relations and Chevron’s operations, remain to be seen.
Original Source: www.foxbusiness.com
