Trump axes Chevron's Venezuela oil license, citing lack of electoral reforms
Source: Reuters
Trump axes Chevron's Venezuela oil license, citing lack of electoral reforms
Matt Spetalnick, Marianna Parraga and Timothy Gardner
Wed, February 26, 2025 at 2:28 PM EST 5 min read
WASHINGTON (Reuters) -U.S. President Donald Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns.
In a post on Truth Social, Trump said he was "reversing the concessions" of the "oil transaction agreement, dated November 26, 2022."
Trump did not name Chevron in his comments, but Washington granted Chevron a license to operate in Venezuela's oil sector on November 26, 2022. It was the only license the administration issued for Venezuela that day.
"The U.S. government has made a damaging and inexplicable decision by announcing sanctions against the U.S. company Chevron," Venezuelan Vice President Delcy Rodriguez said in a statement posted on Telegram.
-snip-
Read more: https://finance.yahoo.com/news/trump-orders-termination-oil-deal-192834155.html
= new reply since forum marked as read
