The Trump administration revoked permits for Western energy firms in Venezuela, further isolating President Maduro. Affected companies include U.S.-based Global Oil Terminals, Spain’s Repsol, and France’s Maurel et Prom, which must cease operations by May 27.The decision also affects licenses for Venezuelan gas companies with deals with state-owned PDVSA.
The U.S. Treasury had previously issued permits allowing international firms to operate in Venezuela, including exporting PDVSA oil despite sanctions. Global Oil Terminals, led by Sargeant, must halt financial transactions with PDVSA by April 2 and settle any remaining debts for asphalt oil purchases.
The Wall Street Journal reported that Sargeant’s company was ordered to leave Venezuela, according to a Treasury letter.The Trump administration set a May 27 deadline for Chevron to end its operations in Venezuela, aiming to pressure Maduro’s regime for democratic reforms and the return of Venezuelan migrants to the U.S.
Last year, Sargeant received a two-year waiver allowing Global Oil Terminals to purchase and transport asphalt to the U.S. and Caribbean. The U.S. Treasury Department declined to comment, and the White House, National Security Council, and State Department did not respond to requests for comment.
