Trump Reverses Biden's Venezuelan Oil Policy, Revokes Oil Licenses From Maduro

Pressure is mounting on Venezuelan Dictator Nicolas Maduro as US President Donald Trump has cancelled former President Joe Biden’s Venezuelan oil export licenses. 

President Trump’s license cancellation effectively reimposes sanctions on Venezuela’s oil sector that had been levied on Venezuela during Trump’s first term. 

Such sanctions were lifted by President Biden in the ‘Barbados Agreement’ in exchange for assurances from Dictator Maduro he would host free and fair elections. 

Despite promises of allowing free and fair elections, the Venezuelan regime barred opposition leader Maria Corina Machado from participating in the same.

However, Machado invested her political capital into former Venezuelan Ambassador Edmundo Gonzalez, who subsequently won the presidential elections.

Subsequently, Gonzalez was forced to seek political asylum in Spain after the Maduro regime rejected the election results and threatened to arrest him.

“We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro, of Venezuela, on the oil transaction agreement, dated November 26, 2022, and also having to do with Electoral conditions within Venezuela, which have not been met by the Maduro regime,” stated Trump. 

Trump’s cabinet and close allies, such as Secretary of State Marco Rubio, have lobbied for a hardline approach to Venezuela with the ultimate goal of a democratic transition rather than negotiating with Maduro to help the US economy.  

Trump had also alluded shortly after his November election victory that he would seek to end Venezuelan exports of oil to the US. 

“We have more energy than anybody else. We're going to use it. We don't have to buy energy from Venezuela when we have 50 times more than they do. It's just insane what we're doing,” said Trump. 

Venezuelan government officials criticized the oil export restriction, claiming that “in reality the US is self-inflicting damage to its people and businesses.”

Florida Republicans Maria Elvira-Salazar, Mario Diaz-Balart, and Carlos Gimenez released a joint statement commending Trump’s license revocation. 

“When it comes to defending the cause of freedom in illegitimate regimes like Venezuela, Cuba, and Nicaragua, there is no greater ally than President Donald J. Trump,” reads the statement. 

“President Trump is keeping his promise. The days of appeasing regimes that are hostile to the United States, coddling dictators, and sidelining our national security interests are over,“ continued the Florida lawmakers.