The U.S. Treasury Department on Monday renewed a license allowing Chevron, the l...
WASHINGTON - The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22.
The license has been a subject of intense debate within the Trump administration as it pursues a campaign to oust socialist President Nicolas Maduro. Its renewal represented a win by some in the administration, such as Secretary of State Mike Pompeo, who see keeping a U.S. company in Venezuela as an asset that could lead to a speedy recovery after any ouster of Maduro.
In January, the United States imposed sanctions on Venezuela’s state-run oil company PDVSA in an effort to oust Maduro. But it issued Chevron a six-month license to operate, which has now been renewed for two three-month periods.
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