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 U.S. Treasury set an April 3 deadline for the oil major to wrap up operations,

The Trump administration made a dramatic move Tuesday, ceasing an important operating license the American oil giant Chevron needed to operate in Venezuela. The decision follows Washington’s condemnation of President Nicolás Maduro’s government for not making concrete advances on key electoral reforms.

The United States on Tuesday gave energy giant Chevron just one month to stop its operations in Venezuela, delivering a heavy blow to cash-strapped authorities in Caracas. But a Treasury Department unit said Tuesday that Chevron must stop pumping within 30 days,