President Trump terminates Joe Biden’s oil deal with Venezuela.
Nigeria News Nalin It is reported that U.S. President Donald Trump announced the offer granted by his predecessor, Joe Biden, in an oil trading agreement with Venezuela more than two years ago.
Trump said in a Wednesday article on Social Truth that he is “reversing concessions to the oil trading agreement on November 26, 2022.”
The agreement reached in 2022 allows the Biden administration to grant Chevron a license to expand its production in Venezuela and export the country’s crude oil to the United States.
However, Trump has not mentioned Chevron in his position.
“We are here to reverse the concessions given by the crooked Joe Biden to Venezuela’s Nicolás Maduro on the November 26, 2022 oil trading agreement, which is also related to the election conditions within Venezuela, which the Maduro regime does not recognize.”
“So, I ordered the termination of the invalid and unreceived Biden ‘franchise agreement’ starting with the renewal of the option on March 1. Thank you for your attention to this matter!” he added.
Meanwhile, Venezuelan President Nicolás Maduro and his administration have been rejecting U.S. sanctions and described them as illegal measures involving “economic wars” aimed at weakening Venezuela.
