FILE - Venezuela's President Nicolas Maduro addresses government loyalists gathered at the presidential palace in support of his reelection one month after the presidential vote, in Caracas, Venezuela, Aug. 28, 2024. , who represented the Unitary Platform coalition in the July 28 election, and his main backer, opposition leader María Corina Machado.
The White House left open the possibility for companies to apply for licenses exempting them from the restrictions, which could attract additional investment to the country with the world’s largest proven oil reserves. European companies have benefited from individual licenses. “We remain committed to conducting our business in compliance with applicable laws and regulations, both in the U.S. and the countries where we operate,” Chevron spokesman Bill Turenne said in a statement.
Venezuela’s electoral authorities declared Maduro the victor hours after polls closed on July 28 but unlike previous presidential elections they never released detailed vote tallies to back up their claim, arguing that the National Electoral Council’s website was hacked.