A permit issued by the United States government allowing energy giant Chevron Corp. to pump and export Venezuelan oil will be terminated this week.

President Trump appears to be revoking a license that the Biden administration gave Chevron in 2022, potentially hurting the company and Venezuela.

U.S. President Donald Trump's cancellation of licenses for foreign oil companies to operate in sanctioned Venezuela will reduce the dollars on offer in the country's exchange market, stoking depreciation of the local bolivar currency and prices,