The license permitting US energy tycoon Harry Sargeant III to bring asphalt from Venezuela has been revoked by the Trump administration, as per a reliable source. Sargeant's Texas-based company, Global Oil Terminals, is required to cease its operations in Venezuela by May 27 and settle any outstanding debt owed to the Venezuelan state oil company, Petroleos de Venezuela, by April 2.

Citing a communication from the US Treasury Department, The Wall Street Journal informed that Sargeant's oil-trading business was instructed to exit Venezuela. As part of a strategy to pressure President Nicolas Maduro's government to adopt democratic changes and accept more US migrants, Chevron was also given a deadline of May 27 to conclude its activities in Venezuela.

Last year in May, Sargeant had been granted a two-year waiver to enable Global Oil Terminals to procure and deliver asphalt to the US and the Caribbean region. There has been no immediate response from a US Treasury spokesperson regarding this matter.