US Poised to Order More Companies to Stop Operating in Venezuela
- Maurel & Prom, Repsol, others may lose waivers from sanctions
- It comes after US ordered Chevron to end work in Venezuela
Nicolas Maduro
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The Trump administration is preparing to force more companies to stop working in Venezuela, increasing pressure on President Nicolas Maduro after ordering Chevron Corp. to end operations there, according to people familiar with the matter.
Officials have told companies including French oil producer Etablissements Maurel & Prom SA and an asphalt company run by Florida oil tycoon Harry Sargeant they’ll have 30 days to end operations in Venezuela once the US revokes their waivers to operate there without running afoul of sanctions, the people said. The US Treasury could initiate the process as soon as Friday, one person said.