Trump Rescinding OFAC’s Venezuela-Related License for Chevron
President Donald Trump on Feb. 26 said he is reversing certain sanctions relief provided to Venezuela by the Biden administration as part of an “oil transaction agreement” signed in November 2022. That date was when the Office of Foreign Assets Control granted U.S. oil company Chevron a general license to resume certain oil activities in Venezuela, which was intended to support the newly restarted negotiations between Venezuelan leader Nicolas Maduro’s regime and the country’s opposition party (see 2211280042).
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“We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement, dated November 26, 2022, and also having to do with Electoral conditions within Venezuela, which have not been met by the Maduro regime,” Trump said Feb. 26 on Truth Social. He added that Maduro “has not been transporting the violent criminals that they sent into our Country” back to Venezuela “at the rapid pace that they had agreed to.”
“I am therefore ordering that the ineffective and unmet Biden ‘Concession Agreement’ be terminated as of the March 1st option to renew.”