Trump cancels Venezuela's oil export licenses to the United States

In the most humiliating way, in a confusing message on his social networks, Donald Trump announced this Wednesday the cancellation of the Venezuelan oil export licenses that his predecessor, Joe Biden, had authorized two and a half years ago. The US president justifies his move by the irregularities in the last Venezuelan elections and the alleged slowness of Caracas to comply with the commitments agreed with the Republican Administration on repatriation flights for illegal immigrants.

“We hereby reverse the concessions” given in “the oil transaction agreement dated November 26, 2022,” the Republican said in his message. On the day mentioned, the Biden administration had authorized the American oil company Chevron to expand its production in Venezuela and introduce crude oil from that country into the US market. No other American company has such permits. The cancellation will take effect as of March 1, Trump said.

In a confusing and humiliating manner, Donald Trump announced this Wednesday on his social media the cancellation of Venezuelan oil export licenses, previously authorized by Joe Biden two and a half years ago. The President of the United States justified his decision by pointing to irregularities in the recent Venezuelan elections and the alleged slowness of Caracas in fulfilling agreements on repatriation flights for illegal immigrants.

Trump stated: "We hereby reverse the concessions" granted in "the oil transaction agreement dated November 26, 2022." On that date, the Biden administration had allowed Chevron, an American oil company, to expand its production in Venezuela and import Venezuelan crude into the U.S. market. According to Trump, the cancellation will take effect on March 1.