Biden turning to Venezuela for oil, after blockading America’s petroleum industry

The Biden administration is set to give Chevron Corp. a license to pump oil in Venezuela, according to The Wall Street Journal.

As part of the deal, Chevron would retain partial control of both production and maintenance for a select set of run-down oil fields it previously had stakes in with Petróleos de Venezuela SA, a state-run oil company in Venezuela, according to the WSJ, citing people familiar with the matter. The deal, which is contingent on certain debts being repaid, would also mean President Joe Biden is continuing to move away from sanctioning the socialist regime.

“We join the international community in welcoming the resumption of negotiations between the Unitary Platform and the Maduro regime,” a National Security Council (NSC) spokesperson told the Daily Caller News Foundation.

The Biden administration has offered to ease sanctions on the Socialist regime after the administration of former President Donald Trump used a “maximum pressure” approach to stop the Venezuelan government from enriching its leaders with resources, rather than its own citizens. – READ MORE

Responses