California-based company Chevron filed tax returns worth about $300 million to Venezuela's socialist regime, revealing how much dictator Nicolas Maduro benefits from Chevron's oil production despite existing oil sanctions. Bloomberg reported that there are doubts as to whether it is being received. reported on Thursday.
The United States, under President-elect Donald Trump's first administration, imposed sanctions on Venezuela's state oil company PDVSA. 2019 In response to many voices, and Ongoing -Human rights violations against its own people by the Maduro regime. The sanctions deprived the socialist regime and its repressive apparatus of its main source of income.
In November 2022, the administration of outgoing US President Joe Biden announced policies that are currently in effect. license This will allow the company to restart oil production in Venezuela and sell Venezuelan oil on the U.S. market.
Bloomberg reports that Chevron's venture According to Bloomberg, Venezuela's Seniato's tax returns show that Chevron's joint venture, Petropia, will report income taxes worth about $217 million in 2023, and that another Chevron's joint venture, Petroboscan, will report income taxes worth about $217 million in 2023. It is stated that he has declared approximately $217 million worth of income taxes. Ventures filed for $83 million. The report noted that Venezuelan law requires companies to pay royalties and other taxes on a third of their production.
Bloomberg said in a report that it was “unclear whether or how Chevron paid those taxes” because any payments to the Maduro regime would likely violate the law. clause Obtain a license to operate in Venezuela. The license prohibits the company from paying taxes, royalties or dividends of any kind to Venezuela's state-owned oil company PDVSA or other state-owned companies.
“Chevron operates in Venezuela in compliance with all applicable laws and regulations,” Chevron spokesman Bill Turenne told Bloomberg on Thursday.
Bloomberg said in a report that Chevron's relationship with Venezuela is likely to come under increased scrutiny in the second Trump administration. President Trump is expected to take a “harder stance against the Maduro regime than the Joe Biden administration.”
The news organization reported this at a time when the Maduro government and representatives of Venezuela's “opposition” Unity Platform were holding talks to organize “free and fair” elections in Venezuela, and the United States was “in power.” At the time, President Biden highlighted that he had issued a license to Chevron. At the time, the country was experiencing the highest inflation in decades due to soaring oil prices. ”
US Treasury said In November 2022, it announced that the authorization reflected the U.S. policy of providing sanctions relief based on “concrete steps that alleviate the suffering of the Venezuelan people and support the restoration of democracy.” As of this writing, no such free and fair elections have been held in Venezuela. President Nicolas Maduro was sworn in for his third fraudulently won six-year term on January 10 after “winning” a fake presidential election on July 28.
“Chevron doesn't just enable oppression; it profits from it,” said Rep. Maria Elvira Salazar (R-Fla.). said Email inquiries to Bloomberg's Latin America office. “Their licenses should be abolished.”
Sen. Marco Rubio (R-Fla.) during his confirmation hearing in Congress to become Secretary of State said The US should reconsider Chevron's license to operate in Venezuela, he said, arguing that the Biden administration was “addicted” to President Nicolas Maduro's promise to hold “free elections” in exchange for oil sanctions relief.
“Right now they have a general license where companies like Chevron are actually contributing billions of dollars into the administration's coffers, and the administration hasn't kept any of the promises they've made.” Rubio said. “So everything needs to be re-examined.”
President Biden in October 2023 Award Maduro's regime offers generous six-month oil and gas sanctions that temporarily restore Maduro's main source of income in exchange for a further series of vague promises to hold “free and fair” elections in Venezuela We have put in place mitigation measures. Maduro did not abide by the terms of the agreement and completely reneged on it. replaced It was a tailored election deal that led to a fraudulent presidential election on July 28th.
Christian K. Caruso is a Venezuelan writer who chronicles life under socialism. You can follow him on Twitter here.
