The Trump administration has quietly renewed Chevron’s license to operate in Venezuela, allowing the oil giant to resume its activities in the South American nation. The decision represents a shift in U.S. policy towards Venezuela, aiming to balance energy interests with ongoing foreign policy challenges.
The new arrangement allows Chevron to pay the Maduro regime in barrels of oil instead of cash, which may give Caracas some latitude to commercialize its resources amid continued international sanctions. This change was made by issuing a “specific license” rather than a general one, allowing for private negotiations and potentially benefiting the regime financially.
Experts argue that this new arrangement will not provide financial relief to Maduro but will still benefit him due to the value of oil on the global market. Chevron’s operations had been disrupted since the Trump administration revoked its license earlier in the year.
The resumption of Chevron’s operations marks a significant turning point in U.S.-Venezuela relations, potentially reshaping diplomatic, economic, and political dynamics in the region. The move reflects a more pragmatic approach to dealing with Caracas, involving direct negotiations with high-ranking Venezuelan officials.
While the U.S. government maintains that it will not allow Maduro’s regime to profit from oil sales, industry observers note that this may be difficult to enforce. Chevron’s renewed operations could lead to increased scrutiny and potential public disclosure of the new license arrangement.
Source: https://www.miamiherald.com/news/nation-world/world/americas/venezuela/article311289025.html