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Oil companies feel Trump's bite with licences
The Citizen
|April 01, 2025
The US has revoked several transnational oil and gas companies' licenses to operate in Venezuela, Caracas said on Sunday, which had been granted despite Washington's sanctions against the South American country.
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Caracas - The US has revoked several transnational oil and gas companies' licenses to operate in Venezuela, Caracas said on Sunday, which had been granted despite Washington's sanctions against the South American country.
US President Donald Trump is seeking to strangle Venezuela economically in order to cripple its leader, Nicolas Maduro, and announced a week ago 25% tariffs on imports from countries buying Venezuelan oil and gas.
Venezuela did not specify which companies were affected but French oil firm Maurel & Prom (M&P) said yesterday the special license it had been granted last May had been revoked.
M&P said the US Treasury's Office of Foreign Assets Control (Ofac) had given it until 27 May to wind down its activities.
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