President Donald Trump revoked a license granted to Chevron by his predecessor, Joe Biden, two years ago. Trump announced the decision in a late Wednesday post on Truth Social. The decision comes as Trump accuses Venezuelan President Nicolás Maduro of failing to make the necessary headway on election changes and migrant returns.

The Trump administration on Tuesday gave Chevron 30 days to stop oil production in Venezuela after Washington accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns.

Chevron will have through April 3 to wind down exports from Venezuela, according to an update of the license, published by the U.S. Treasury Department. The Venezuelan communications ministry did not immediately respond to a request for comment on the move. The Office of Foreign Assets Control (OFAC) Department did not provide further guidance.