Previously, Secretary of State Marco Rubio had signaled that more than one oil license would be suspended. "Today, pursuant to @POTUS directive, I am providing foreign policy guidance to terminate all Biden-era oil and gas licenses that have shamefully bankrolled the illegitimate Maduro regime," Rubio wrote on his X account. Other companies that might be affected by the new U.S. policy on Venezuela include Spain's Repsol, Italy's Eni and India's Reliance Industries. The operations of all international companies in Venezuela, including Chevron's, generate about half of the country's output. While Repsol, Reliance and Etablissements Maurel & Prom are not U.S. companies, a decision to continue operating in Venezuela after the eventual removal of their license would put them at risk of being found in violation of U.S. sanctions and of themselves facing punitive actions.