The Trump administration plans to revoke Chevron’s license to operate in Venezuela due to unmet conditions, reversing a prior agreement from the Biden administration. The Venezuelan government condemned the move, stating it would harm both parties economically. Politically, the decision reflects pressure from Florida’s hardline politicians and suggests an increasing trend towards strict sanctions against Venezuela.

On February 27, 2025, the Trump administration announced plans to revoke Chevron’s U.S. Treasury license to operate in Venezuela. This decision reverses the November 2022 arrangement under General License 41 that approved Chevron’s activities in the country. President Trump cited Venezuela’s failures to meet electoral conditions and slow deportations of violent criminals as reasons for this action, effective March 1st.

This revocation of Chevron’s license is viewed as a move succumbing to the pressures from hardline political factions, particularly from Florida. The ensuing economic repercussions on Venezuela are anticipated to be significant, potentially impacting revenue and inflation. Both Trump and Congressional representatives predict more measures against Caracas, signaling a return to stricter sanctions.

Original Source: venezuelanalysis.com