Trump Withholds Venezuelan Oil Approval for Non-US Majors
The Trump administration is restricting non-U.S. oil companies from operating in Venezuela, while allowing Chevron Corp. to continue its activities in the country. This move is seen as an effort to increase pressure on the government of Nicolás Maduro. The decision affects several major oil companies that have been seeking approval to work in Venezuela. The administration's stance is likely aimed at limiting the influence of foreign entities in the Venezuelan oil industry and bolstering the position of U.S. interests. The move is part of the broader U.S. strategy to isolate the Maduro government and support the opposition led by Juan Guaidó. The decision highlights the geopolitical tensions surrounding Venezuela's oil resources and the Trump administration's willingness to use its leverage in the energy sector to achieve its foreign policy objectives.
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