Particle.news
Download on the App Store
9 ARTICLES
·
2mo ago

Trump Ends U.S. Oil Export Permit for Venezuela Over Election and Deportation Disputes

The decision reverses a Biden-era agreement that had provided financial relief to Nicolás Maduro's government through Chevron's operations in Venezuela.

FILE - Chevron President in Venezuela, Javier La Rosa, left, attends a signing agreement ceremony between Venezuela and the California-based Chevron, in Caracas, Venezuela, Dec. 2, 2022. (AP Photo/Matias Delacroix, File)
U.S. President Donald Trump hosts his first cabinet meeting with Elon Musk in attendance, Washington, D.C., U.S., February 26, 2025. REUTERS/Brian Snyder
A tanker sails near an oil refining plant of state-owned Petroleos de Venezuela (PDVSA) in Puerto La Cruz in November 2021
Image

Overview

  • President Donald Trump announced the termination of a U.S. permit allowing Chevron to pump and export Venezuelan oil, effective March 1, 2025.
  • The permit, originally issued under President Joe Biden in 2022, was intended to support democratic reforms in Venezuela but has faced criticism after alleged irregularities in the 2024 election.
  • Trump cited Venezuela's failure to meet democratic conditions and delays in accepting deported Venezuelan nationals as reasons for the decision.
  • Chevron, which has operated in Venezuela under the permit, stated it is reviewing the implications of the announcement while continuing to comply with U.S. laws.
  • The move could significantly impact Venezuela's economy, which has relied on oil exports despite years of sanctions and declining production.