ABC News on Nostr: US rejects Venezuelan President Maduro's reelection, but keeps financial lifeline for ...
US rejects Venezuelan President Maduro's reelection, but keeps financial lifeline for his government
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In January 2025, the U.S. rejected Nicolás Maduro's reelection, which was deemed neither fair nor free, despite his promise in 2022 to hold democratic elections. The White House granted a financial lifeline to Venezuela, allowing Chevron to pump and export oil, which has reportedly earned Maduro's government about $4 billion. The permit accounts for approximately 25% of Venezuela's oil production. Maduro was sworn in for a third term on January 10, 2025, amid allegations of electoral fraud. The U.S. sanctions policy is under review, with President Biden stating he lacks sufficient data to adjust sanctions. Venezuela's oil production has significantly declined from 3.5 million barrels per day in 1999 to less than 400,000 barrels per day in 2020. Chevron's joint ventures produced around 200,000 barrels a day in 2019 but increased to 80,000 barrels a day after receiving the license. The opposition claims the election was stolen, and over 7.7 million Venezuelans have emigrated since Maduro took office in 2013.
#Venezuela #Maduro #UsSanctions #Chevron #Elections #OilProduction #PoliticalCrisis #Migration #Democracy #FinancialLifeline
https://abcnews.go.com/International/wireStory/us-rejects-venezuelan-president-maduros-reelection-financial-lifeline-117844161
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In January 2025, the U.S. rejected Nicolás Maduro's reelection, which was deemed neither fair nor free, despite his promise in 2022 to hold democratic elections. The White House granted a financial lifeline to Venezuela, allowing Chevron to pump and export oil, which has reportedly earned Maduro's government about $4 billion. The permit accounts for approximately 25% of Venezuela's oil production. Maduro was sworn in for a third term on January 10, 2025, amid allegations of electoral fraud. The U.S. sanctions policy is under review, with President Biden stating he lacks sufficient data to adjust sanctions. Venezuela's oil production has significantly declined from 3.5 million barrels per day in 1999 to less than 400,000 barrels per day in 2020. Chevron's joint ventures produced around 200,000 barrels a day in 2019 but increased to 80,000 barrels a day after receiving the license. The opposition claims the election was stolen, and over 7.7 million Venezuelans have emigrated since Maduro took office in 2013.
#Venezuela #Maduro #UsSanctions #Chevron #Elections #OilProduction #PoliticalCrisis #Migration #Democracy #FinancialLifeline
https://abcnews.go.com/International/wireStory/us-rejects-venezuelan-president-maduros-reelection-financial-lifeline-117844161