Hard blow to Maduro's tyranny: Biden's concessions come to an end and Trump revokes his oil licenses

In a forceful move that is shaking the foundations of Nicolás Maduro's regime in Venezuela, US President Donald Trump announced Wednesday the definitive cancellation of the oil licenses granted to Chevron during Joe Biden's administration. The measure, announced through social networks, reverses the agreement signed in November 2022, which allowed the US company to operate in the South American country under limited conditions.

End of the agreement with Chevron: Trump accuses Maduro of non-compliance

Trump called Biden's decision a failed concession that benefited Chavismo without demanding concrete guarantees. According to the Republican, Maduro reneged on key commitments, such as holding fair and free elections and deporting Venezuelan criminals who illegally entered the United States, a particularly sensitive issue for his electoral base, concerned about border security.

"The regime has not been transporting the violent criminals that they sent into our Country (...) back to Venezuela at the rapid pace that they had agreed to. I am therefore ordering that the ineffective and unmet Biden 'Concession Agreement' be terminated," Trump stated.

The cancellation of the licenses, which will take effect on March 1, deals a severe financial blow to Chavismo, eliminating one of the few foreign currency income mechanisms the regime had.

Reactions in Congress

Trump's decision was celebrated by Republican lawmakers who have rejected any easing toward Maduro. Congresswoman María Elvira Salazar expressed her support on X:

"I have been asking for months that they cancel the oil licenses that benefit the Maduro regime. Today the president keeps his word. No more oil dollars for the repressive apparatus of Chavismo. Venezuela's freedom is much closer."

Salazar, along with Congressmen Mario Diaz-Balart and Carlos Gimenez, also issued a statement in which they called the measure a direct blow to Maduro's "narco-dictatorship" and a necessary correction after Biden's erratic policy. "The days of appeasing regimes that are hostile to the United States, coddling dictators, and sidelining our national security interests are over," they said.

Senator Rick Scott also backed the move and criticized Biden's strategy: "After years of Biden’s weak appeasement, you’ve shown the world America is back and the US stands with the Venezuelan people again. Biden allowed Maduro to steal the Venezuelan people’s natural resources to enrich himself and other dictators in our hemisphere."

Biden's deal and its implications

In the midst of sanctions imposed on Venezuela for human rights violations, electoral fraud and repression, the Biden administration opted in November 2022 to soften its stance and granted Chevron a special six-month license through the Treasury Department's Office of Foreign Assets Control (OFAC).

The measure allowed the oil company to resume production of crude oil and oil products in Venezuela, although with restrictions on new drilling. However, far from promoting changes, the concession eased the pressure on the regime without requiring concrete progress.

Chevron produced in Venezuela an average of 220,000 barrels per day, which represented approximately a quarter of the country's total production, estimated at 900,000 barrels per day.

Biden justified the agreement by assuring that it was conditioned on progress towards free elections and the deportation of Venezuelan criminals. However, Maduro ignored these commitments and used the economic injection to strengthen his control over the country.