U.S. President Donald Trump's stricter approach to Venezuela will harm the country's oil and gas industry, undermine its economy and fuel migration, but is unlikely to destabilize the government as President Nicolas Maduro will increasingly rely on non-Western allies and his control of Venezuela's security apparatus to remain in power over the coming year. On March 4, the U.S. Treasury issued a new license that shortened the timeline for Chevron to exit Venezuela from six months to 30 days. This came after Trump announced plans on Feb. 26 to revoke a Biden-era oil and gas license that had allowed the U.S. oil major to operate in Venezueala since 2022, in response to Caracas's alleged failure to accept more Venezuelan nationals deported from the United States as part of a deal the two governments reached in January. Following the license suspension, Venezuelan President Nicolas Maduro officially announced on March 10 that his government would...
