The United States has revoked licenses for several international oil and gas companies operating in Venezuela, escalating economic pressure on President Nicolás Maduro’s government.
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Trump Says He’s ‘Not Joking’ About Possible Third Term as President: U.S. Revokes Oil & Gas Licenses for Foreign Companies in VenezuelaFrench oil firm Maurel & Prom confirmed that its license had been revoked, with a deadline of May 27 to wind down operations. Similarly, Spanish energy giant Repsol and Italy’s Eni received termination notices, with Repsol’s shares dropping 2.5% following the announcement.
Venezuelan Vice President Delcy Rodríguez assured that the government remains in communication with affected companies and will continue honoring existing contracts despite U.S. sanctions.
This move is part of Washington’s broader efforts to isolate Maduro’s administration. In addition to the license revocations, the U.S. has imposed a 25% tariff on imports from countries purchasing Venezuelan oil, a move that could significantly impact the nation’s oil exports and economy.
