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

The Treasury Department moved Tuesday to formally rescind a Biden-era license allowing Chevron to pump oil in Venezuela, giving the company 30 days to wind down operations as the Trump administration pressures President Nicolás Maduro.

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.