President Donald Trump said Wednesday the United States will end the Biden administration’s concessions aimed at promoting free elections in Venezuela, canceling a license that allowed U.S. oil company Chevron to produce and export oil in the country.
The move, set to take effect March 1, comes as the Trump administration resets foreign relation policies stretching back decades. Trump said in a social media post the conditions the Biden administration reached with Venezuela in 2022 that allowed the country to export oil “have not been met by the Maduro regime.”
“I am therefore ordering that the ineffective and unmet Biden ‘Concession Agreement’ be terminated as of the March 1st option to renew,” Trump wrote in his social media post.
While serving as senator, Secretary of State Marco Rubio had opposed the Biden concessions that had been given to convince Venezuelan President Nicolás Maduro to allow free elections. Despite those concessions, election observers have said the country’s presidential contest last year was riddled with fraud.
