The United States has reimposed strict sanctions on Venezuela’s oil sector, revoking all licenses granted under the Biden administration. President Donald Trump announced the policy shift, effective March 1, 2025, citing the Venezuelan government’s failure to uphold its commitments under a previous agreement.
“I am hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement, dated November 26, 2022,” Trump stated.
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