The Biden administration has a secret to Chevron Corp allowed hundreds of millions of dollars to the Venezuelan government despite a license explicitly prohibits such payments, according to the people familiar with the matter.
The supplement to the sanctions in November 2022 allowed Chevron to comply with the American law while the regime of President Nicholas Maduro was paid for taxes and oil compensation, the people who asked not to identify the discussion of non -public information said. The initial waiver of the Ministry of Treasury office was granted to control foreign assets Chevron permission to perform limited operations in the Latin State.
The administration of President Donald Trump has ended the ranking and requires the Texas Giant to oillandVenezuelan operations.
“Chevron runs its work worldwide in accordance with all laws and regulations, including any penalties stipulated in the US government,” the company said in a statement.
The US Treasury, which oversees the punishment exemptions, rejected the comment.
The penalties known as the general license for Chevron allowed the pumping and export of Venezuelan crude, but it explicitly prevented the company from paying taxes, dedication or profits to the Venezuelan government or any state -controlled entities.
However, an unknown supplement allowed Chevron to make some payments necessary for commercial operations, some people said.
Last year, Chevron provided documents with the Venezuelan authorities, which show about $ 300 million of taxes due in the country, according toDocumentsBloomberg News reviewed it. At that time, American actress Maria Elvira Salazar, a Republic of Florida, condemned the arrangement and called for the withdrawal of Chevron’s concession.
Read more:Chevron provided Venezuela taxes despite the sanctions: documents
Chevron is the only major American oil company that is still working in Venezuela after a wave of comprehension by Maduro’s predecessor, the late Hugo Chavez on the 2000s. These seizures prompted some other operators to leave the nation and prosecute compensation.
Chevron’s operations in Venezuela were actually suspended through the penalties during the first Trump administration. However, this changed in 2022 when Biden officials concluded a deal that encouraged Maduro to hold democratic elections in exchange for allowing Chevron to return to work.
The expansion of oil production helped stabilize Venezuela’s economy by bringing itDollars affecting itAnd reduce inflationary pressures. But Maduro has retracted many of his democratic concessions, as it prevents his main opponent from running and declaring himself the winner without showing evidence.
In the most authoritarian moments in his regime so far, more than 2,500 people have also detained and forced opposition candidate Edmondo Gonzalez to flee the nation.
“The Biden administration has played,” US Secretary of State Marco Rubio said during the Senate confirmation session. “They now have these general licenses, as companies such as Chevron actually provide billions of dollars in money in the treasures of the system, and the system has not maintained any of the promises they made.” Chevron’s accurate amounts cannot be checked independently.
Read more:The United States is ready to extend the deadline for Chevron Venezuela on April 3
“The cancellation of the Chevron license only works to restore oil sales towards China on the black market, allowing Venezuela with a pocket of every dollar,” said Juan Gonzalez, who led the policy of President Joe Biden’s administration towards Vinzuela as a senior national security council manager at the White House. “It helps Maduro and prevents an American company from recovering what is worthy.
Chevron’s relationship with Venezuela has put an intense audit by Trump in recent weeks, and earlier this month, he has made a final date for 30 days to end her shared operations with state -owned PDVSA.
People familiar with this deadline for at least 30 days, after pressing Chevron, said that the administration is about to extend this deadline for at least 30 days, after pressing Chevron. One of the extension cases is that any taxes and royalties go to help pay the costs of migrant deportations, instead of the Maduro system directly.
This story was originally shown on Fortune.com
