Trump demands oil company owned by Republican Party donor to leave Venezuela

According to an exclusive from The Wall Street Journal, this Friday, the Trump administration ordered Global Oil Terminals to abandon its activities in Venezuela.

The company is part of a Florida conglomerate owned by oil businessman Harry Sargeant III. He is a Republican party donor and is well known for having tried in the past to alleviate political tensions between the U.S. and Venezuela.

Sargeant's company is now the second U.S. oil company to lose its authorization to work in Venezuela, after Chevron received the same order last month.

According to reports, both companies have until May 27 to close their operations in the South American country.

According to the WSJ, Sargeant is known for playing golf at Mar-a-Lago one day and flying to Caracas the next. The businessman has helped negotiate deals aimed at deepening U.S. commercial involvement in Venezuela. President Nicolás Maduro famously calls him "grandfather."

Global Oil received its license in May 2024 and has since carried shipments of heavy oil produced in Venezuela. According to the WSJ, some of the supply is used to pave U.S. roads.

In a letter sent to Global Oil and seen by the American newspaper, the Treasury Department has indicated that all payments to Venezuelan entities must be made before Wednesday. The short deadline to make payment implies an earlier withdrawal from Venezuela.

According to the WSJ. the Trump administration came to power trying to reach out to the Venezuelan government, easing sanctions Trump imposed during his first term.

On the other hand, the Biden administration eased sanctions, hoping that Maduro would hold free and fair elections. The Chevron license was the cornerstone in the preceding administration's strategy, but Nicolás Maduro refused to hand over power after losing the elections.

Now Trump's strategy is to isolate Maduro once again under the influence of a foreign policy led by Secretary of State Marco Rubio.