Ramnarine: A trend of tough action for T&T
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March 5, 2025
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The United States Department of the Treasury yesterday issued a 30-day notice to Chevron Corporation, ordering the oil giant to wind down its operations in Venezuela by April 3.
General Licence No 41, issued on November 26, 2022, which had allowed Chevron to resume Venezuelan crude exports to the US, was fully replaced and superseded by General Licence No. 41A yesterday.
The move effectively cuts off Chevron’s ability to pump and sell Venezuelan oil, marking a significant shift in US policy just days after President Donald Trump vowed to reverse his predecessor Joe Biden’s oil concessions to Venezuelan President Nicolas Maduro.
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