The Trump administration seeks to escalate pressure on Venezuela by demanding the cessation of operations by several companies, including Chevron, Maurel & Prom, and Repsol. This strategy follows the revocation of Chevron’s license and aims to weaken Maduro’s government, which critics argue relies on foreign oil support. Venezuelan officials have criticized the sanctions, suggesting they harm U.S. interests.
The Trump administration is intensifying its economic offensive against Venezuela, urging more companies to terminate their operations in the country. Bloomberg indicates that government officials have warned several firms, including French oil producer Etablissements Maurel & Prom SA and Spanish oil giant Repsol, to prepare for the revocation of their licenses. They will have 30 days to cease operations after receiving the notifications.
This expansion follows the recent formal revocation of Chevron’s license to operate in Venezuela, which occurred in late February. The Trump administration has granted Chevron until April 3 to halt all operations, significantly impacting Nicolas Maduro’s government, which has heavily relied on the company’s production activities to stabilize the struggling Venezuelan economy.
Critics assert that Chevron’s continued operation provides essential support to an authoritarian regime, enabling its hold on power through fraudulent means. President Trump has pointed out that Maduro has failed to implement promised electoral reforms and repatriate Venezuelan migrants from the U.S. at an adequate pace, further complicating relations.
In an official statement, Trump remarked, “We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro… which have not been met by the Maduro regime.” He also criticized the regime for not swiftly transporting violent criminals back to Venezuela as previously agreed.
Reacting to the sanctions, Venezuelan Vice President Delcy Rodríguez characterized the decision as harmful to the Venezuelan populace and detrimental to U.S. interests. She stated that such actions compromise the legal security of the United States within its international investment framework.
In summary, the Trump administration’s economic offensive aims to compel companies such as Chevron, Maurel & Prom, and Repsol to cease operations in Venezuela, thereby exerting pressure on Maduro’s government. This decision arises from concerns regarding electoral integrity and the nationalist repercussions on U.S. interests. The response from Venezuelan officials highlights the potential fallout of U.S. sanctions on bilateral relations and the international investment climate.
Original Source: www.inkl.com
