President Donald Trump says he is reversing a Biden-era grant allowing Chevron to operate within Venezuela on Wednesday. Trump detailed the decision in a lengthy post on Truth Social, stating that Venezuelan President Nicolas Maduro had not upheld his end of the bargain.

President Donald Trump said he plans to revoke Chevron Corp.’s oil license to operate in Venezuela, threatening to torpedo the nation’s slow economic recovery.

President Donald Trump said Wednesday he is revoking the license that allows the Venezuelan government to export oil to the United States, claiming that the South American country has failed to take back Venezuelan deportees from the U.