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Trump Cancels Venezuela Oil Deal Over Migrant Issue

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  • Trump revokes oil deal with Venezuela over migrant repatriation issue
  • Deal allowed Chevron to operate in Venezuela despite sanctions
  • Maduro accused of not meeting electoral conditions and repatriating criminals
  • Cancellation impacts Venezuela's economy, oil sector growth, and tax revenue
  • Decision follows US envoy visit to Venezuela to bring back imprisoned Americans
360 summary
  • The revocation of the oil deal with Venezuela by President Trump has led to a significant decline in Venezuela's tax revenue, with Chevron's exit looming by July.
  • Maduro's failure to repatriate migrants as agreed has resulted in a strained relationship with the US, impacting Venezuela's oil sector growth projections.
  • The cancellation of the deal has caused Venezuela's dollar bonds to fall to the day's low, indicating a negative impact on the country's economy.
zerohedge.com
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