However, their simplistic argument does not withstand scrutiny. Evidence shows that U.S. sanctions significantly contributed to Venezuela’s economic implosion, while the easing of sanctions in recent years has been associated with a moderate economic recovery that has helped alleviate the worst of the country’s economic crisis.

President Nicolás Maduro of Venezuela aimed for a democratic election amid US economic sanctions, offering Chevron a permit to export Venezuelan oil. Despite an unfair election and criticism, oil revenues have bolstered Venezuela's economy.

The United States and Venezuela navigate a complex relationship involving sanctions, oil licenses, and disputed elections. Controversies persist over diplomatic interactions during and after the presidencies of Trump and Biden.

Caracas, January 19 (RHC)-- Despite the illegal sanctions that the U.S. Treasury Department maintains against Venezuela, Chevron Corp. (CVX), a U.S. oil company, filed tax returns for about 300 million dollars to the Bolivarian government last year, as reported by Bloomberg News this week.

Maduro took office last week for a third consecutive term. Now, he’s consolidating his position as dictator Nicolás Maduro has now been in power in Venezuela since 2013 – gradually usurping power over the past twelve years until becoming a full dictator.

Venezuela's oil production is rebounding as tanker ships return to its coast, yet Maduro's recent election is criticized for lack of fairness.

UNIONDALE, NY / ACCESS Newswire / January 30, 2025 / Marquis Who's Who celebrates Andres Illarramendi for his contributions to the energy sector.

A few big questions hang over Chevron as it prepares to report fourth-quarter earnings on Friday. The company’s planned acquisition of Hess is in limbo; the Trump administration may attempt to curtail its production in Venezuela;

The US Gulf Coast heavily relies on Venezuelan crude, with imports hitting a six-year high. While Trump has left room for maneuvering on Venezuela, he is unlikely to cut off imports entirely. Disruptions to this supply would force refiners to seek lower-quality alternatives, threatening energy stability.

The oil company plans to build natural gas power plants that will be directly connected to data centers used by technology companies for artificial intelligence and other services.

The United States and Venezuela have a fraught recent history marked by broken diplomatic relations, sanctions and accusations of criminal activity and coup-plotting.