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The President of the United States, Donald Trump, announced this Wednesday through his account on Truth Social the revocation of the "concessions" granted by the former president, Joe Biden, to the regime of Nicolás Maduro in Venezuela.
The decision ends an agreement on oil transactions and electoral conditions signed on November 26, 2022, which, according to Trump, has not been honored by the Venezuelan regime.
"We are reversing the concessions that the corrupt Joe Biden gave to Nicolás Maduro of Venezuela regarding the oil transaction agreement and also related to the electoral conditions within Venezuela, which have not been fulfilled by Maduro's regime," pointed out the American president.
The president added, next, that the Maduro regime has not repatriated to Venezuela, at the agreed pace, the “violent criminals” who are in U.S. territory.
“Therefore, I order that Biden's 'Concession Agreement,' which is ineffective and unfulfilled, be rescinded starting from the renewal option on March 1. Thank you for your attention to this matter!” concluded the U.S. President.
"I have been requesting for months that the oil licenses benefiting Maduro's regime be canceled. Today, the President keeps his word. No more oil dollars for the repressive machinery of chavismo", wrote Congresswoman María Elvira Salazar on X, one of the first to react to the announcement.
"The freedom of Venezuela is much closer now. Thank you, President Trump!" he added.
In November 2022, Joe Biden granted Chevron a license to resume oil production in Venezuela after U.S. sanctions halted all drilling activities in 2019.
Chevron received a six-month license from the U.S. Office of Foreign Assets Control (OFAC) that authorizes the company to produce crude oil and petroleum products at its projects in Venezuela, according to a general license from the U.S. Department of the Treasury.
Although new drilling was not authorized, the company could repair and maintain the oil fields.
The announcement on Wednesday comes shortly after the U.S. special envoy for Latin America, Mauricio Claver-Carone, revealed in an interview with journalist Andrés Oppenheimer that the license granted to Chevron was "permanent" and renewed automatically every six months.
"The government of President Biden made it permanent and deceived the people. They said it would expire, but it was written in a way that made it permanent," Claver-Carone stated, a claim that has been contradicted in light of the recent announcement by the U.S. President.
"Why go to the enemy and give them billions and billions?"
On February 18, President Trump indicated that he was considering suspending the license that allows the oil company Chevron to operate in Venezuela.
In a press conference from Mar-a-Lago, Florida, Trump stated that his Administration was reviewing that exemption that allows Chevron to operate in Venezuela despite the sanctions.
"Why did they do that, why go to the enemy and give them billions upon billions?" the leader asked.
"We are having discussions within our own government. It's a bit early, but we weren't buying (oil) from them. However, when (Joe) Biden arrived, for whatever reason, he started buying oil there, even though we have more liquid gold than anyone. They paid Venezuela a fortune," he added.
"We are looking into it very seriously, but I have only been here for three weeks", Trump responded at that time to a question about whether he would maintain the license allowing Chevron to operate despite the economic sanctions imposed on Nicolás Maduro's government.
Why go to the enemy and give them thousands and thousands of millions?
The license of Chevron had also been questioned by the United States Secretary of State, Marco Rubio, for being a significant source of dollar funding for the Maduro government, which Washington does not recognize as the legitimate winner of the July 2024 elections.
The announcement is also good news for the Venezuelan exile community, which viewed the oil deal with Nicolás Maduro as a betrayal by the United States.
As of the close of this report, there has been no official reaction from Nicolás Maduro's regime to the announcement made by President Donald Trump.
Frequently Asked Questions about the Revocation of Oil Licenses to Venezuela by Trump
Why did Donald Trump revoke the oil licenses from Maduro's regime?
Donald Trump revoked the oil licenses granted to Maduro's regime because he believes it did not meet the electoral and criminal repatriation conditions agreed upon. Trump criticized the concessions made by his predecessor, Joe Biden, arguing that they unfairly benefited Maduro's regime without it fulfilling its commitments.
What are the implications of the revocation of Chevron's licenses in Venezuela?
The revocation of licenses means that Cheben will no longer be able to continue oil production in Venezuela under the previous agreement. This measure aims to cut off the flow of resources that could benefit Maduro's regime and to pressure for a political change in the country.
What is María Elvira Salazar's stance on Trump's decision?
María Elvira Salazar supported Trump's decision, thanking him for canceling the oil licenses that benefited Maduro's regime. She believes that this action brings Venezuela closer to freedom and puts an end to the funding of the repressive apparatus of Chavism.
How does this revocation affect relations between the United States and Venezuela?
The revocation of licenses further strains the relationships between the United States and the Maduro regime, by eliminating a key source of income for Venezuela and increasing pressure on the government to meet its international obligations.
What role does the Bolívar Law play in the context of sanctions against Venezuela?
The Bolívar Law seeks to tighten sanctions against the Maduro regime by prohibiting economic operations with the Venezuelan government, reinforcing international pressure to limit the regime's resources and support the Venezuelan opposition.
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