Venezuela did not fulfill the terms of the United States agreement for oil production, and therefore it could be canceled, Trump said.
US president Donald Trump recalled permission to produce and export oil from Venezuela. On Wednesday, February 26, he reported on Truth Social, Bloomberg wrote.
“We are removing the concessions of Nicholas Maduro from Venezuela under a agreement with oil agreements on November 26, 2022,” the White House leader wrote.
As Trump explained, the decision was connected, in particular, with violations of the President’s election election in Venezuela in Tag -War of 2024, where Maduro won. He also noted that the decision to end the agreement was because Karagas did not fulfill its obligations to return the migrants he had “sent” to the United States.
Bloomberg indicates that the American company Chevron Corp. He has permission for making and selling oil in Venezuela.
“The loss of Chevron will be a serious blow to the recovery of Venezuela’s economy, which, thanks to the help of an American company, has increased oil production to 1 million barrels per day,” wrote the newspaper.
American Energy Company Chevron has announced the study of the consequences of Trump’s decision and noted that they are following all the restrictions and penalties imposed by the United States.
Chevron’s license review can lead to a reduction in the growth of Venezuela GDP from 3.2 to 2% this year.
By the end of November 2022, the US finance department softened sanctions against Venezuela and allowed Chevron and its subsidiaries to obtain and import oil and oil products from South American country to states.
Earlier, the formal Venezuela head Nicholas Maduro, suggested to change the country’s constitution, calling this impetus to a change in the territorial division and diversity of economics.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.