WASHINGTON (Reuters) – The Trump administration on Tuesday gave Chevron Corp (CVX.N), the last major U.S. oil company still operating in Venezuela, until Dec. 1 to “wind down” its business in the OPEC member-nation and will allow it to conduct only severely limited operations there until then.
Seeking to ratchet up pressure on socialist President Nicolas Maduro, the U.S. Treasury Department imposed tight new restrictions on Chevron’s joint ventures with Venezuelan state-run oil company PDVSA, which could pave the way for the California-based company’s departure.
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