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.

CVX gets a 30-day deadline to wrap up its operations in Venezuela, giving a major blow to U.S. refiners and Venezuela's economy.

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.