The Office of Foreign Assets Control of the U.S. Treasury Department formalized the cancellation of license 41, which allowed the U.S. oil company Chevron to operate in Venezuela.

Venezuela’s Vice President and Minister of Hydrocarbons Delcy Rodriguez announced on Tuesday through her social networks that Venezuela has activated a plan of absolute productive independence in the face of sanctions against Chevron.

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“President Nicolás Maduro has ordered the activation of the Absolute Productive Independence Plan , so that our hydrocarbons industry and the country’s economy continue its stable and diversified recovery,” the statement reads.

Likewise, it refers that the U.S. government, in its eagerness to harm the Venezuelan people, is self-inflicting damage by causing “an increase in the price of fuels and affecting the legal security of the investments of its companies abroad”.

According to the communiqué, this determination of the U.S. government succumbs once again to the pressure of failed and defeated opposition sectors in the South American country.

The Bolivarian government expresses in view of the unsuccessful efforts to inflict harm to the Venezuelan people that “a great conscience and national union will continue to mark the path of economic recovery with social justice” and in absolute adherence to its sovereignty and national independence.

The statements come after the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department, on Tuesday, March 4, formalized the cancellation of license 41, which allowed the U.S. oil company Chevron to operate in Venezuela.

The announced measure comes after President Donald Trump announced the measure on February 26, arguing that it reversed concessions granted by Joe Biden’s administration to the government of Venezuelan President Nicolás Maduro.

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