President Donald Trump revoked a license granted to Chevron by his predecessor, Joe Biden, two years ago. Trump announced the decision in a late Wednesday post on Truth Social. The decision comes as Trump accuses Venezuelan President Nicolás Maduro of failing to make the necessary headway on election changes and migrant returns.

President Donald Trump announced he is revoking a U.S. license allowing Chevron to operate in Venezuela, reversing a concession granted by President Joe Biden in 2022. Trump accused Venezuelan President Nicolás Maduro of failing to meet electoral and migrant return conditions.

The move appears to end the U.S. company’s work in the oil-rich country and was prompted by what President Trump said was strongman Nicolás Maduro’s failure to accept deportees.