The maximum pressure approach toward Venezuela represents the only effective strategy for dealing with Maduro's authoritarian regime. If the U.S. were to extend Chevron's license, the Trump administration would effectively legitimize and financially enable an illegitimate narco-dictator. Hopefully, Trump listened to Secretary Marco Rubio and decided to let the license expire in a clear message of support to Venezuela's democratic opposition.
It's a fact that U.S. strategic interests are far better served when negotiating with Venezuela than when adopting maximum-pressure policies that only benefit China, so Chevron's license should have been extended. Special envoy Grenell has achieved tangible results through engagement, including the release of hostages and deportation flights for migrants. Still, Marco Rubio and three lawmakers have now hijacked the U.S. policy on Venezuela.