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Trump Orders Global Oil Terminals To Leave Venezuela, WSJ Says

This is the second US oil company to lose the authorisation to work in Venezuela after Chevron.

Bloomberg News

The Trump administration has ordered Republican donor Harry Sargeant III’s oil-trading company to leave Venezuela (Representative image. Source: Freepik)

The Trump administration has ordered Republican donor Harry Sargeant III’s oil-trading company to leave Venezuela, the Wall Street Journal reports.

Global Oil Terminals is the second US oil company to lose the authorisation to work in Venezuela after Chevron received a similar notice last month, the paper said. The firm has until May 27 to wind down its operations in the South American nation, the Journal reported.

Global Oil must complete all payments to Venezuelan entities by Wednesday, according to the report, citing a letter from the Treasury Department.

Also Read: Venezuela-Trump Impact: For 1% Import Will India Risk 25% US Tariff Levy?

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