The United States is rescinding a Treasury license allowing Chevron to produce and export oil from Venezuela, despite U.S. sanctions, President Donald Trump said Wednesday, because President Nicolás Maduro was not legitimately elected and has not accepted Venezuelans deported from this country fast enough.

US President Donald Trump says he will revoke a license which allowed Venezuela to export some of its oil to the US despite sanctions. The move is a major blow to the Venezuelan government as the license provided it, through joint ventures between the state-run oil company and US oil giant Chevron, with a crucial income in dollars.

President Donald Trump said Wednesday he is revoking the license that allows the Venezuelan government to export oil to the United States, claiming that the South American country has failed to take back Venezuelan deportees from the U.