US Renews Chevron's Venezuela License, Sanctions Still for the People
Funny how Washington's 'maximum pressure' campaign, designed to cripple Venezuela's economy and oust President Maduro (despite, you know, elections), suddenly softens when Big Oil needs an extension. The US Treasury Department's Office of Foreign Assets Control (OFAC) has imposed crippling sanctions on Venezuela's oil sector since 2017, aiming to starve the government of revenue. But Chevron,
which reported $21.4 billion in earnings in 2023, isn't just any company; it's a critical US entity. So, while the Venezuelan people continue to suffer under sanctions that have demonstrably worsened an economic crisis – leading to food shortages and medical supply issues (see CEPR analysis on sanction impact)—Chevron gets to 'talk' about its license. It appears 'rebuilding' only applies to
corporate profits, not the lives devastated by policies supported by the very same government. How many more licenses before the 'decaying' sector is 'fixed' for everyone but Venezuelans?