President Donald Trump announced that he is terminating a Biden-era policy allowing Chevron to operate within Venezuela.
“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,” Trump wrote on Truth Social. “Additionally, the regime has not been transporting the violent criminals that they sent into our Country (the Good Ole’ U.S.A.) back to Venezuela at the rapid pace that they had agreed to. I am therefore ordering that the ineffective and unmet Biden ‘Concession Agreement’ be terminated as of the March 1st option to renew. Thank you for your attention to this matter!”
Venezuelan Vice President Delcy Rodriguez said in a statement on Telegram that the decision is “harmful.”
“By announcing sanctions against the US company Chevron, seeking to harm the Venezuelan people, damage is actually being inflicted on the United States, its population, and its companies, further calling into question the legal certainty of the United States in its investment regime. international,” Rodriguez stated.
“The constitutional government of Venezuela and its people, in a large national union, categorically reject this type of action publicly requested by the country’s extremist and failed opposition. Venezuela highlights that this type of failed actions promoted migration from 2017 to 2021 with the widely known consequences,” the statement continued. “Venezuela will continue on its path of comprehensive economic recovery, guaranteeing it with the creative effort of all and in absolute adherence to its sovereignty and national independence. As one of the liberators of South America José Gervasio Artigas said: ‘let us expect nothing but ourselves.'”
Chevron said of the development that it is “considering its implications.”
“Chevron conducts its business in Venezuela in compliance with all laws and regulations, including the sanctions framework provided by U.S. government,” the company said.
