President Nicolas Maduro looks on during a press conference after testifying before the electoral chamber at main headquarters of the Supreme Court of Justice on Aug. 2, 2024, at the Miraflores presidential palace in Caracas, Venezuela.

Chevron Corp. filed tax returns worth about $300 million with the Venezuelan government last year, raising questions about how much President Nicolás Maduro is benefiting from the US company’s oil production in spite of sanctions.

Maduro took office last week for a third consecutive term. Now, he’s consolidating his position as dictator Nicolás Maduro has now been in power in Venezuela since 2013 – gradually usurping power over the past twelve years until becoming a full dictator.

President Nicolás Maduro of Venezuela aimed for a democratic election amid US economic sanctions, offering Chevron a permit to export Venezuelan oil. Despite an unfair election and criticism, oil revenues have bolstered Venezuela's economy.

U.S. President Donald Trump - who during his first term used a "maximum pressure" sanctions policy against President Nicolas Maduro - referred to Maduro as a dictator during the 2024 U.S. campaign. The administration of former U.

However, their simplistic argument does not withstand scrutiny. Evidence shows that U.S. sanctions significantly contributed to Venezuela’s economic implosion, while the easing of sanctions in recent years has been associated with a moderate economic recovery that has helped alleviate the worst of the country’s economic crisis.

In 2022, the White House granted Venezuela a financial lifeline “to support the restoration of democracy” after President Nicolás Maduro promised to work toward an open presidential election, granting U.

Chevron Corp. presentó declaraciones de impuestos por valor de unos US$300 millones al gobierno venezolano el año pasado, lo que plantea interrogantes sobre cuánto se está beneficiando el presidente Nicolás Maduro de la producción petrolera de la compañía estadounidense a pesar de las sanciones.

Donald Trump’s secretary of state-nominee Marco Rubio said the US should reconsider Chevron Corp.’s sanctions waiver that allows the oil giant to operate in Venezuela.Most Read from BloombergThese Homes Withstood the LA Fires.

The United States and Venezuela have a fraught recent history marked by broken diplomatic relations, sanctions and accusations of criminal activity and coup-plotting.

The United States and Venezuela navigate a complex relationship involving sanctions, oil licenses, and disputed elections. Controversies persist over diplomatic interactions during and after the presidencies of Trump and Biden.

By bne intellinews Venezuela, once a significant supplier of crude oil to the United States, may be on the brink of losing its position as a key energy partner. Hinting at the reversal of limited oil imports resumed in 2023,