The Trump administration said Tuesday that it is allowing Chevron Corp. to continue operating in Venezuela at least until Jan. 22, despite sanctions aimed at forcing President Nicolás Maduro from power by choking off income and investment for his government.
Officials said they feared halting Chevron activities would delay eventual rehabilitation of the country’s critical oil infrastructure once the political crisis ends. Chevron is the last major American commercial outpost in Venezuela.
Deputy Assistant Secretary of State Carrie Filipetti said the decision is consistent with sanctions because it doesn’t let Maduro’s administration receive new money.
After Jan. 22, the Treasury Department will again decide whether to revoke or renew the license. The license was originally issued in January for six months, and it was renewed in July for three months.