(ReclaimingAmerica.net) – President Donald Trump just dealt a serious blow to Venezuelan socialist dictator Nicolas Maduro by canceling Chevron’s oil license.
This decisive action targets Maduro’s failure to implement promised political reforms and take back Venezuelan illegal aliens deported from the United States.
President Donald Trump announced the termination of Chevron’s license to operate in Venezuela, effectively cutting off a major financial lifeline for Maduro’s oppressive regime.
The decision reverses a controversial concession granted by the Biden administration in 2022 that had been funneling billions of dollars to prop up the socialist government.
“We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement,” President Trump declared.
He referenced the “oil transaction agreement, dated November 26, 2022,” that Joe Biden had implemented without securing meaningful reforms or migration controls.
The cancellation will halt Chevron’s export of nearly 240,000 barrels of Venezuelan crude per day.
I will also affect operations that have been providing between $2.1 billion and $3.2 billion annually to the Maduro regime.
Despite this significant change, U.S. Energy Secretary Chris Wright assured Americans that the United States could easily absorb this supply adjustment without market disruption as the world’s largest oil producer.
The Biden administration repeatedly made concessions to hostile foreign powers like Maduro.
Meanwhile, President Trump’s decision demonstrates his commitment to using America’s economic leverage to advance freedom abroad while addressing the migration crisis at home.
A key factor in Trump’s decision was Maduro’s failure to fulfill promises to accept the return of Venezuelan illegals who entered the United States during Biden’s border crisis.
Venezuelan opposition leader Maria Corina Machado praised Trump’s decision, recognizing it as powerful support for freedom advocates in Venezuela.
“This is a huge step, and it sends a clear, clear, firm message that Maduro is in huge trouble,” Machado said.
Machado, who supports Edmundo González – widely considered the legitimate winner of Venezuela’s July 2024 election – has accused Maduro of using oil export revenues to fund repression and corruption rather than helping Venezuelan citizens.
Secretary of State Marco Rubio strongly endorsed the move as part of the administration’s strategy to end Biden-era policies that enriched dictators while undermining American interests.
The license cancellation takes effect March 1, leaving Chevron just a few days to comply.
The oil giant has been operating in Venezuela since the 1920s and the Venezuelan government owed it approximately $3 billion until recently.
Venezuelan fraudulent Vice President Delcy Rodriguez criticized the decision, calling it “damaging and inexplicable.”
Her words only served to confirm President Trump’s strategy is working to pressure the regime.
Meanwhile, Chevron spokesperson Bill Turenne stated simply: “We are aware of today’s announcement and are considering its implications.”
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