The Trump administration, on Tuesday 21 April, gave Chevron, the last major U.S. oil company still operating in Venezuela, until December 1 to “wind down” its business in the OPEC member-nation and will allow it to conduct only severely limited operations there until then, Reuters reported. Chevron has had a special U.S. operating license exempting it from sanctions on Venezuela’s vital oil sector since January, but the latest three-month waiver was due to expire on Wednesday 22 April. The action targets what some Trump administration officials say is a key financial lifeline for Maduro as Washington seeks to stifle trade in Venezuelan crude and remove his grip on power.
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