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Trump to Revoke an Oil License in Venezuela

26 February 2025
in Business
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Trump to Revoke an Oil License in Venezuela
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President Trump announced his decision to revoke a Biden-era policy allowing increased oil production in Venezuela, affecting Chevron, who operates there. The Treasury Department had granted Chevron permission to expand operations in Venezuela in November 2022, with the license up for renewal on March 1. The move is seen as a response to Venezuela’s failure to repatriate criminals and has drawn criticism from the country’s vice president, warning of negative consequences for both nations.

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Tags: licenseoilrevokeTrumpVenezuela
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