The US president said the decision was related to the failure of the "Nicolás Maduro regime" to accelerate the deportation of "violent criminals."
US President Donald Trump announced on Wednesday that he will end the oil export licenses granted to Venezuela by his predecessor, Joe Biden, and explained that these concessions, which benefited the oil company Chevron, will no longer be valid as of March 1. He made the announcement through his Truth Social network.
In the post, in which he criticized the "regime" of Nicolás Maduro for not having accelerated the deportation of the "violent criminals" that, according to him, Caracas sent to the United States and who should have been repatriated "at a rapid pace," he pointed out that he was revoking the concessions granted in November 2022 by the Biden administration, which allowed Chevron to increase its production in Venezuela.
The goal of these concessions was to secure guarantees for the elections that Venezuela held last year, in which Maduro declared himself the winner. "We are reversing the concessions that corrupt Joe Biden granted to Nicolás Maduro, as well as those related to electoral conditions within Venezuela, which the Maduro regime has not fulfilled," Trump announced.
Doubts about legal security
Under the terms of its current license, Chevron was allowed to operate in Venezuela until the end of July, so Trump's decision brings the cessation of activity forward by several months. Chevron's exit represents an economic setback for the South American country, as the US oil company had contributed to the revival of Venezuelan oil production.
Washington does not formally recognize Maduro's re-election for a third term (2025-2031) and supports the exiled Edmundo González Urrutia, who claims victory in the presidential elections last July. The Chavista regime has not shown the electoral records, as required by law, while the opposition exhibits documents that would demonstrate its overwhelming victory in the elections.
Venezuelan Hydrocarbons Minister Delcy Rodríguez reacted via Telegram, saying that the decision was "harmful and inexplicable" and that it calls into question "the legal security of the US in its international investment regime."
