Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent: One martyr and one wounded in an Israeli drone attack on the town of Hafir, west of Baalbek, eastern Lebanon.
Al Mayadeen correspondent: An Israeli drone fired three missiles in the vicinity of the town of Bodai, west of Baalbek.
Reuters: The Rapid Support Forces announced that they have taken over the headquarters of the Sudanese Armed Forces in al-Fasher.
Al Mayadeen correspondent: An Israeli drone strike targeted the town of Al-Qlailah, Southern Lebanon.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes town of Harouf, Nabatieh district.
Factions' statement: The attendees agreed to support and continue implementing the ceasefire agreement measures, including the withdrawal of the occupation and lifting the siege.
Factions' statement: Calling for an end to all forms of torture and violations against prisoners in occupation prisons and the necessity of obligating the occupation to do so.
Statement: The current moment is crucial, making the meeting a true turning point toward national unity in defense of our people and their right to life, dignity, and freedom.
Factions' statement: Call for an urgent meeting of all Palestinian forces and factions to agree on a national strategy.
Factions' statement: Continuing joint work to unify visions and positions to confront the challenges facing the Palestinian cause.

Trump reverses Biden's oil concessions to Venezuela

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Feb 2025 22:48
2 Min Read

Trump's announcement comes amid allegations from anti-Maduro factions about unmet electoral conditions, though these claims remain unverified.

Listen
  • x
  • AP
    This Nov. 30, 2006 file photo shows oil drills in Maracaibo Lake in Venezuela's oil-rich Zulia state (AP Photo/Leslie Mazoch, File)

US President Donald Trump announced Wednesday that he is reversing concessions granted to Venezuela by former President Joe Biden over two years ago, escalating Washington's pressure campaign against the Venezuelan government.

In a post on Truth Social, Trump declared he was "reversing the concessions" related to the "oil transaction agreement, dated November 26, 2022." On that date, the Biden administration had authorized Chevron to expand its oil production in Venezuela and bring Venezuelan crude to the United States. This decision was intended to ease some US sanctions on Venezuela, aiming to support dialogue between President Nicolás Maduro's government and opposition groups.

The previous agreement allowed Chevron to operate under strict conditions while maintaining control over its joint ventures in Venezuela. Analysts noted that the license was part of a pragmatic approach by the Biden administration to balance US energy needs with political negotiations in Venezuela.

Related News

Kurdistan oil firms reach deal with Baghdad to resume exports

Iraq signs energy deal with US oil giant Chevron

Trump's announcement comes amid allegations from anti-Maduro factions about unmet electoral conditions, though these claims remain unverified. The timing of his decision suggests it directly targets Chevron's operations in Venezuela.

Read more: Maduro: Evidence of US role in assassination attempt revealed

The move is expected to have serious consequences  for Venezuela's economy, which heavily relies on oil exports. The Biden-era license provided a crucial channel for Venezuelan crude to reach international markets, offering some relief amid US sanctions. With this reversal, the economic impact on the Venezuelan people is likely to worsen.

Venezuelan President Nicolás Maduro has consistently opposed US sanctions, denouncing them as illegal measures aimed at destabilizing Venezuela. Maduro has attributed the country's economic challenges to the devastating impact of the sanctions while praising the resilience of the Venezuelan people.

  • Chevron
  • United States
  • Maduro
  • Venezuela
  • Venezuela oil
  • Donald Trump

Most Read

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Undated photo of Hanwha Ocean’s Goeje Shipyard in South Korea (Hanwha Ocean)
Politics

China counters US maritime bloc with sanctions on Hanwha Ocean

Catherine Connolly speaks after being after being elected as the new President of Ireland at Dublin Castle, Ireland, Saturday, Oct. 25, 2025. (AP)
Politics

Connolly wins Irish presidency in blow to political establishment

Buildings destroyed during the Israeli air and ground offensive are seen in the Al-Shati camp, in Gaza City, Friday, Oct. 24, 2025. (AP)
Politics

'Israel's' post-ceasefire demolitions in Gaza violate agreement: Hamas

Iran's Foreign Minister Abbas Araghchi attends the 17th annual BRICS summit in Rio de Janeiro, Brazil, July 7, 2025 (AP)
Politics

Iran’s Araghchi: Our nuclear bomb is resilience, not weapons

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS