President Trump has reversed oil transaction concessions with Venezuela, citing unmet electoral conditions by President Maduro and slow repatriation of violent criminals. The decision terminates an agreement established under the Biden administration that allowed companies like Chevron to operate in Venezuela. Venezuelan officials criticized the reversal as harmful to both nations.
President Donald Trump has announced the reversal of concessions made under the Biden administration regarding oil transactions with Venezuela. This decision is based on Venezuelan President Nicolas Maduro’s failure to meet electoral conditions and the slow pace of repatriating violent undocumented Venezuelan criminals back to their homeland. Trump emphasized that these concessions would not be renewed as of March 1, terminating the agreement intended to allow specific financial transactions, particularly in the oil sector, to ease restrictions during negotiations aimed at promoting fair elections in Venezuela.
The Biden administration had previously authorized US-based Chevron to resume limited extraction operations in Venezuela as part of an effort to facilitate negotiations between the Maduro government and opposition. However, following the exclusion of opposition candidate Maria Corina Machado from the upcoming presidential elections, sanctions have been reimposed. Trump’s statement on Truth Social criticized these concessions made by “crooked Joe Biden” and highlighted the unmet agreements concerning electoral frameworks and the deportation of Venezuelan criminals.
In response, Venezuelan Vice President Delcy Rodriguez condemned Trump’s decision, calling it “damaging and inexplicable.” Rodriguez argued that the sanctions would harm both the Venezuelan people and the United States’ population, questioning the integrity of the US’s international investment regime. She suggested that actions intended to impoverish Venezuela would ultimately undermine American interests and companies.
In conclusion, President Donald Trump’s decision to reverse concessions on oil transactions with Venezuela underscores the ongoing tension between the US and Maduro’s regime. The dissatisfaction with the Maduro government’s failure to meet electoral standards, combined with concerns over criminal repatriation, prompted this significant policy shift. The response from Venezuelan officials highlights the potential repercussions for US economic interests and the complexities surrounding international diplomatic relations.
Original Source: www.mid-day.com
