Trump Revised Chevron’s Venezuela Deal. Maduro’s Oil Trader Profited.
The New York Times • • business
Key Points:
- Republicans have long criticized the Biden administration for allowing Chevron to export oil from Venezuela, arguing it finances President Nicolás Maduro’s corrupt government.
- Under President Trump, Chevron’s operations in Venezuela were altered so the company transfers oil directly to the Venezuelan government instead of dollars, aiming to reduce financial support to Maduro.
- Data reveals that a Panamanian businessman, Ramón Carretero, who is sanctioned for ties to the Maduro family, has benefited the most, selling about $500 million worth of crude from Chevron’s largest Venezuelan oil field since exports resumed.
- In response, the Trump administration announced a "blockade" on sanctioned oil tankers entering or leaving Venezuela to cut off this financial flow to the Maduro regime.
