Trump Revokes Venezuela Oil License After Maduro Failed To Take Enough Migrants Back
by Tyler Durden
Wednesday, Feb 26, 2025 - 03:20 PM
President Trump has ordered the termination of a key oil deal with Maduro's Venezuela, announcing in a post on Truth Social that he was "reversing the concessions" of the "oil transaction agreement, dated November 26, 2022."
These were concessions enacted by his Democratic predecessor Joe Biden, which had allowed Chevron Corp - active in the Latin American country for a century - to produce and sell oil in Venezuela despite sanctions.
Via Chevron
"Under the terms of the license, Chevron would have to exit Venezuela by the end of July," Bloomberg reports in the aftermath of the announcement.
Trump's post says: "We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement, dated November 26, 2022, and also having to do with Electoral conditions within Venezuela, which have not been met by the Maduro regime."
https://www.zerohedge.com/commodities/trump-revokes-venezuela-oil-license-after-failing-receive-enough-migrants-back
