US President Donald Trump's threat to strip oil giant Chevron of a license to operate in Venezuela could plunge the troubled South American nation into deeper economic and social turmoil, experts say.

WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns.

US President Donald Trump said Wednesday he was revoking permission for oil giant Chevron to operate in Venezuela, a major blow to the wobbly economy run by leftist adversary Nicolas Maduro. Former president Joe Biden in 2022 eased sanctions and gave Chevron permission to operate in Venezuela in return for a promise by Maduro to allow fair elections.