The file photo shows the logo of Chevron at the companys office in Caracas, Venezuela, on April 25, 2018. (By Reuters)
Venezuela is facing a commercial dilemma as Chevron, one of the USs largest oil corporations, halts its production in the South American country following an order by President Donald Trump.
The US government has slapped numerous economic sanctions on Venezuela since President Donald Trump took office. This time around, the Trump administration ordered Chevron Corporation to - in its word - wind down its operations in the Latin American country, as part of Washingtons regime change policy toward Caracas.
After Trumps order, the California-based oil giant stopped all its business relations with Venezuela - a move that many regard as another attempt at forcing Venezuelan President Nicolas Maduro to give up power.
Chevron was the last major US oil company to do business in Venezuela. It has made developments in the South American countrys oil fields and machinery with an estimated value of 2.6 billion dollars.
Venezuelan officials consider the move a heavy blow to their countrys troubled economy, stressing, however, that the decision will not bring Venezuela to its knees.
Some other pro-government officials believe that the US decision is politically motivated. The opposition, however, blames the government for the commercial break-up.
The measure is the latest in a series of aggressive US measures against Venezuelas economy, disregarding the nations need for resourses amid the coronavirus outbreak.
While the US tries to paralyze Venezuelas oil industry, Caracas redirects its alliances to other nations, such as China and Russia, in a bid to keep Venezuelas economy running despite Washingtons sanctions.
Jesus Silva
Press TV, Caracas
LINK: https://www.ansarpress.com/english/16249
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