The Venezuelan opposition has called on the United States to revoke licenses allowing Chevron and other energy companies to operate in Venezuela. This move aims to pressure President Nicolás Maduro to negotiate a transition from power, following a disputed election on July 28, 2024.
Rafael de la Cruz, an adviser to opposition candidate Edmundo González Urrutia, stated during a Washington think tank panel, "We want them canceled ... this is a lifeline to the regime." The opposition, led by González and Maria Corina Machado, claims a landslide victory in the recent election, contradicting the official results declaring Maduro the winner.
Venezuela, home to the world's largest proven oil reserves, has been under U.S. sanctions since 2019. These sanctions were imposed on the state-owned oil company PDVSA as part of a policy targeting Maduro's government for alleged corruption and anti-democratic practices. In 2022, Chevron received permission to resume operations in Venezuela after negotiations between Maduro and the opposition began.
The opposition's stance on oil companies is complex. While they seek their departure to pressure the regime, they also express a desire to "find common ground" with these companies in the future. De la Cruz emphasized, "We want all the oil companies to go to Venezuela. So, it's not about the companies. It's about the situation that is impoverishing the country so badly that practically the whole population wants this regime gone."
The July 28 election results remain highly contested. Venezuela's electoral authorities declared Maduro the winner without releasing detailed vote tallies, citing a hacked website. The opposition, however, claims to have obtained and published vote tallies from over two-thirds of the electronic voting machines, showing a different outcome.
"We have published the vote tallies online to show the world that Maduro has lost."
International condemnation over the lack of transparency led Maduro to request an audit from Venezuela's high court, which subsequently reaffirmed his victory. This court is widely considered to be stacked with ruling party loyalists.
In response to the disputed election, U.S. lawmakers have introduced legislation to prohibit American investments in Venezuela's oil sector and impose visa restrictions on current and former government officials. Resolutions recognizing González's victory have also been presented in both the House and Senate.
The situation escalated in early August 2024 when González went into exile in Spain following an arrest warrant issued against him. This was related to an investigation into the publishing of vote tally sheets.
Most recently, in early September 2024, the U.S. Treasury Department imposed sanctions on 16 allies of Maduro, accusing them of obstructing the vote and committing human rights abuses. Those targeted included the head of the country's high court, leaders of state security forces, and prosecutors.
Venezuela's political and economic crisis continues to have far-reaching effects. The country has experienced severe economic decline, hyperinflation, and mass emigration in recent years. Despite having vast oil reserves, Venezuela's oil production has significantly decreased since the early 2000s, contributing to its economic woes.
As the dispute over the election results intensifies, the international community remains focused on Venezuela's political future and the potential for democratic reforms in a country that has faced accusations of human rights abuses and political repression for years.