US President Donald Trump has announced the cancellation of a “concession agreement” on Venezuela’s energy sector that allowed Chevron to pump and export oil in the sanctioned South American country.
In a post on his Truth Social platform, Trump on Wednesday said he was “reversing the concessions” granted by Joe Biden’s administration in November 2022.
“We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement . . . and also having to do with Electoral conditions within Venezuela which have not been met by the Maduro regime,” Trump wrote.
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