United States President Donald Trump announced on Wednesday the revocation of concessions made by his predecessor, Joe Biden, to Venezuela for over two years.
In a post on the Truth Social Network, Trump stated that he was “reversing the concessions” of the “Oil Transaction Agreement, dated 26 November 2022”.
A license issued on that date allowed the US company Chevron to expand its production in Venezuela and export gross oil from the country to the US.
This was the only concession signed by the Biden government that day. Trump’s post, however, does not mention Chevron.
The White House and the US State Department did not immediately answer questions about whether Trump was referring to Chevron’s license.
The company also did not immediately respond to a request for comment.
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Venezuela President Nicolás Maduro and his government have always condemned the sanctions imposed by the US and other countries, stating that the measures are illegitimate and equals an “economic war” designed to harm Venezuelans.
Maduro and his allies have praised what they say is the resilience of the country, although historically they attributed economic difficulties and the shortage of sanctions.
