The Trump administration has halted the issuance of new approvals for non-U.S. oil companies seeking to operate in Venezuela, according to people familiar with the matter. The pause applies to several Western majors and is intended to ratchet up economic pressure on President Nicolás Maduro’s government. Firms affected include Spain’s Repsol SA, Italy’s Eni SpA and France’s Maurel & Prom, the people said. By contrast, Chevron Corp. retains a Treasury licence that last month allowed it to resume production, export Venezuelan crude and ship some volumes to the United States. Officials in Washington are weighing geopolitical, financial and energy-market considerations as they recalibrate sanctions policy. The Treasury Department declined to comment, and the State Department and National Security Council did not immediately respond to inquiries. The companies named also declined or did not answer requests for comment.