The U.S. has given Chevron one month to stop operations in Venezuela, threatening the Maduro government’s revenue stream. The move reflects a shift in Trump’s policy from engagement to sanctions, and experts predict significant negative impacts on the Venezuelan economy and increased emigration.
On Tuesday, the United States mandated that Chevron cease its operations in Venezuela within one month, creating significant challenges for the already struggling government in Caracas. Chevron is responsible for producing and exporting approximately 250,000 barrels of crude oil daily, which plays a critical role in generating revenue for President Nicolas Maduro’s administration. The U.S. Treasury Department’s directive has been characterized by industry insiders as an unrealistic timeline.
This recent decision by the U.S. government signifies a stark change in policy toward Venezuela under President Trump, especially following a brief attempt at engagement with Maduro. As a result, the cessation of Chevron’s operations is likely to lead to severe economic repercussions for Venezuela, exacerbating the current crisis and increasing outflows of refugees from the country.
Original Source: www.kpvi.com
