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.

Experts say this move could spell recession for Venezuela, and more people fleeing the country. Read more at straitstimes.com.

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.