The Trump administration has taken the decision to reinstate Chevron’s licence to operate in Venezuela, marking a decisive and long-overdue shift in its Venezuela policy. The decision, which will see Chevron resume operations in the world’s largest proven oil reserves after being barred in May 2025, is more than an economic arrangement. It is a significant foreign policy recalibration. For too long, US engagement in Venezuela has been driven by a neoconservative agenda and the false promise of regime change - an approach that has only…