On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela that they had until December to wind down operations in the country. The Treasury Department’s Office of Foreign Assets Control (OFAC) issued a new license that only authorizes “limited maintenance of essential operations” in Venezuela, with a wind down period ending on December 1. Companies affected include Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International. Essentially, the companies can continue very limited operations in Venezuela but will not be able to export oil. They can only do the bare minimal to comply with contracts, but drilling and exporting are barred. Operations will have to end on December 1. The U.S. government slapped harsh sanctions on Venezuela a year and a half ago when it launched its regime change campaign, seeking to oust President Nicolas Maduro. Washington aimed to block most of Venezuelan oil exports as […]