The U.S. has instructed Chevron to halt operations in Venezuela within 30 days, posing a significant challenge to the Maduro government which relies heavily on oil revenues. This decision represents a major reversal in President Trump’s policy regarding Venezuela, shifting from engagement to renewed pressures amid political pressures domestically. Experts warn this could worsen Venezuela’s economic crisis and increase emigration.
The United States has mandated Chevron to cease its operations in Venezuela within a month, significantly impacting the financially strained authorities in Caracas. Currently, Chevron generates and exports approximately 250,000 barrels of crude oil daily, offering essential revenue to President Nicolas Maduro’s regime. However, a recent directive from a Treasury Department unit demanded an immediate halt to Chevron’s production, a timeline industry insiders deem impractical.
The U.S. government’s directive for Chevron to terminate its Venezuelan operations marks a crucial shift in its approach towards the Maduro regime, reflecting heightened political pressure and serious economic implications for Venezuela. Experts predict that this decision may exacerbate the country’s already dire economic conditions, compelling a greater number of Venezuelans to flee and damaging the foreign reserves essential for the government’s survival.
Original Source: www.rnz.co.nz
