Chevron Corp. filed tax returns worth about $300 million with the Venezuelan government last year, raising questions about how much President Nicolás Maduro is benefiting from the US company’s oil production in spite of sanctions.

Caracas, January 19 (RHC)-- Despite the illegal sanctions that the U.S. Treasury Department maintains against Venezuela, Chevron Corp. (CVX), a U.S. oil company, filed tax returns for about 300 million dollars to the Bolivarian government last year, as reported by Bloomberg News this week.

In 2022, the White House granted Venezuela a financial lifeline "to support the restoration of democracy" after President Nicolás Maduro promised to work toward an open presidential election, granting U.

The United States and Venezuela have a fraught recent history marked by broken diplomatic relations, sanctions and accusations of criminal activity and coup-plotting. U.S. President Donald Trump - who during his first term used a "maximum pressure" sanctions policy against President Nicolas Maduro - referred to Maduro as a dictator during the 2024 U.

President Nicolás Maduro of Venezuela aimed for a democratic election amid US economic sanctions, offering Chevron a permit to export Venezuelan oil. Despite an unfair election and criticism, oil revenues have bolstered Venezuela's economy.

Chevron Filed Taxes in Venezuela Despite Sanctions, Documents Show Returns for two joint ventures list about $300 million owing Trump nominee says deal with Maduro should be ‘re-explored’

President Nicolas Maduro looks on during a press conference after testifying before the electoral chamber at main headquarters of the Supreme Court of Justice on Aug. 2, 2024, at the Miraflores presidential palace in Caracas, Venezuela.