US President Donald Trump’s plan to revoke Chevron Corp.’s operating license in Venezuela threatens to force the nation’s oil sector back into the shadows, paving the way for corruption and huge discounts in the Asian market.

The cancellation of a license for Chevron to operate in Venezuela could lead to the negotiation of a fresh agreement between the U.S. producer and state company PDVSA to export crude to destinations other than the United States,

The US government has revoked a permit allowing Chevron Corp. to pump and export Venezuelan oil, ending a crucial financial channel for Venezuela. The permit's cancellation comes after accusations that Venezuela's government failed to meet democratic standards in elections.