Bloomberg Learns Chevron Secretly Allowed Biden to Bypass Sanctions

Under Biden, the US has secretly allowed Chevron to make necessary tax payments in Venezuela despite sanctions , Bloomberg reports . Last year, according to the report, the company paid $300 million in taxes.

The previous U.S. administration secretly allowed energy giant Chevron to pay “hundreds of millions of dollars” in taxes and oil royalties to the Venezuelan government despite sanctions, people familiar with the matter told Bloomberg.

They say it is a hidden addendum to a November 2022 general license that allowed Chevron to produce and export Venezuelan crude despite U.S. sanctions on Venezuela.oil . The document also explicitly prohibited the company from paying taxes, royalties, or dividends to the Venezuelan government or any other state-controlled entities. Bloomberg's sources say the undisclosed addendum allowed Chevron to make certain payments necessary to run its business.

Last year, the company submitted documents to Venezuelan authorities confirming that it had paid about $300 million in taxes in the country, according to documents seen by the agency.

“Chevron conducts its business around the world in compliance with all laws and regulations, including any sanctions imposed by the U.S. government,” Bloomberg quotes the company as saying.

The U.S. Treasury Department declined to comment. Former President Joe Biden's spokeswoman Kelly Scully did not respond to a request for comment.

The US imposed sanctions on Venezuela's oil sector during Donald Trump's first term due to President Nicolas Maduro's second election victory. The Venezuelan opposition disputed the results of the vote, and Washington did not recognize them.

Under Joe Biden, the US eased sanctions, in particular by allowing Chevron to extract and supply Venezuelan oil to the US. In this way, Washington supported the Venezuelan economy and Caracas' efforts to "restore democracy."

In January 2025, Maduro took office for the third consecutive term as president of Venezuela. Following this, the US withdrew its decision to suspend sanctions on Venezuela's oil and gas sector due to "a lack of progress between Maduro, his representatives, and the opposition." The restrictions will go into effect on April 18.

In addition, in late February, Trump revoked the permit for oil production and export from Venezuela. The deadline for the end of the activity expires on April 3, but, according to Bloomberg sources, it can be extended for at least another 30 days. One of the agency's interlocutors said that one of the conditions for the extension is that any taxes and royalties will go to pay for the deportation of migrants, and not directly to the Venezuelan authorities.

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