US Restores Chevron License After Prisoner Swap

The Trump administration restored Chevron's license to resume oil production and exports in Venezuela following a prisoner swap that released 10 Americans from Venezuelan custody and returned over 250 Venezuelans from El Salvador. The license includes restrictions to prevent financial benefit to Nicolás Maduro's regime, with Chevron permitted to pay in oil rather than cash, though experts doubt the effectiveness of these safeguards. U.S. officials stress that this policy change does not constitute recognition of Maduro as president and assure that no U.S. funds will support the regime's repressive apparatus. The move is intended to boost U.S. refiners' crude supplies by more than 200,000 barrels per day, though it may not affect the current peak driving season. The decision is also seen as a bid to counter growing Chinese influence in Venezuela's oil sector. Overall, the U.S. aims to balance energy interests with continued political pressure on the Venezuelan government.