In a decisive move reflecting a hardline stance, President Donald Trump's administration has revoked Chevron Corporation's license to operate in Venezuela, signaling a renewed effort to exert maximum pressure on President Nicolás Maduro's regime. The decision, announced on May 27, 2025, effectively halts Chevron's oil production and exports from the South American nation, aiming to curtail financial resources to Maduro's government.
Chevron, the last major U.S. oil company operating in Venezuela, had been producing approximately 240,000 barrels of oil per day through joint ventures with the state-owned Petróleos de Venezuela S.A. (PDVSA). This output accounted for over a quarter of Venezuela's total oil production and was a significant source of revenue for the Maduro administration.
The revocation of Chevron's license is part of a broader strategy by the Trump administration to instigate regime change in Venezuela. A senior foreign policy adviser to President Trump remarked, "We wouldn't mind one bit seeing Maduro being neighbors with Assad in Moscow," indicating a desire for Maduro's exile.
Secretary of State Marco Rubio has been vocal in condemning Maduro's government, describing it as a "narco-trafficking organization" aligned with adversaries such as Russia, China, and Iran. Rubio's appointment underscores the administration's commitment to a stringent policy against the Venezuelan regime.
The administration's actions have also included the implementation of Executive Order 14245, signed on March 24, 2025, which imposes a 25% tariff on all goods imported into the United States from any country that imports Venezuelan oil. This measure aims to dissuade international support for Maduro's oil exports.
While some within the administration previously suggested renewing Chevron's license as part of broader diplomatic negotiations, the current approach reflects a shift towards more aggressive tactics. The revocation of the license and the imposition of tariffs are intended to isolate Maduro's regime economically and diplomatically.
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