The US administration of Donald Trump is giving Chevron Corp one month to stop producing oil in Venezuela, delivering a heavy blow to president Nicolas Maduro's autocratic regime.

The Trump administration formally revoked on Tuesday the license that allows oil giant Chevron Corp. to sell Venezuelan oil in the United States, giving the U.S. company only 30 days to wind down its operations in the South American country.

US Treasury Department’s Office of Foreign Asset Control orders Chevron to wind down joint venture operations by 3 April