Biden’s Secret Deal Allowed Chevron to Pay Venezuela Millions

License 41B, created by the Treasury Department, enters into force on Monday and revokes the license issued in early March, which set April 3rd as the deadline for liquidation. It will now be until May 27th.

The U.S. Treasury Department announced Monday the extension of General License 41B, which allows oil company Chevron to maintain operations in Venezuela until May 27, 2025. However, the document imposes restrictions that reinforce the economic blockade against the South American country, including the prohibition of paying taxes, royalties or dividends to the Venezuelan State. The measure, signed by the Office of Foreign Assets Control (OFAC), a…

US Extends Chevron’s Deadline to Wrap Up Venezuela Operation

The Trump administration extended Chevron’s deadline through May 27 to halt its operations in Venezuela, following lobbying efforts by the Texas-based oil giant.

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The Venezuelan Economy After the US Ends General License 41 for Chevron

By Franco Vielma  –  Mar 20, 2024 Since the cancellation of General License 41, which favored the activities of the U.S. company Chevron in Venezuela, most economic analyses have resulted in pessimistic forecasts about the immediate future of the Venezuelan economy. Other, more balanced interpretations converge on a common assessment: it is highly likely that this measure will affect the country’s economic activities, but it will not necessarily…

Biden’s Secret Deal Allowed Chevron to Pay Venezuela Millions