In response to this new approach to Venezuela, state department officials stated that one of their primary objectives is to promote a stable environment in Venezuela, to support the country's economic recovery, as well as to encourage political reconciliation in the country (GMA Network).
Reestablishment of Diplomatic Relations After A Period Of Conflict
Diplomatic relations between the United States and Venezuela were ended in 2019 when the United States recognized Juan Guaido (the leader of the Venezuelan opposition) as the temporary president of Venezuela, which created an ongoing rift in the relationship between the two nations, in large part due to the ongoing political crisis affecting Venezuela (Merco Press).
Earlier this year the landscape changed dramatically when US forces successfully apprehended Maduro on a drug trafficking and weapons-related charges whose charges he has denied, and he will face in court in New York City (Wikipedia).
The Venezuelan Supreme Court has named Delcy Rodriguez as acting president of the country and opened the door to renewed contacts with Washington (MercoPress).
Embassies Reopened And Dialogue Expanded
As part of this thawing of diplomatic relations between the US and Venezuela, for the first time in several years, the US Embassy in Caracas, is now open, in addition to the anticipated arrival of additional US staff and diplomats to engage in negotiations and to provide consular services.
Both sides have stated that this new diplomatic opportunity with Venezuela could lead to even more significant cooperation between the two countries. The Venezuelan government also referred to this opportunity as the beginning of a "new phase of constructive dialogue," which is to be based upon mutual respect and a spirit of cooperation (GMA Network).
The United States has expressed that their goals for engagement with Venezuela are to create conditions, which will assist in facilitating a peaceful transition toward a democratically elected government in Venezuela.
Increasing Economic Cooperation And Energy Deals
In addition to the possibility of rebuilding diplomatic relations, these two countries may also significantly improve their level of economic cooperation. Venezuela is said to possess one of the largest reserves of oil and also has gold and other critical minerals that are very much in demand for use in creating modern technology.
The US has already begun negotiating future agreements concerning oil production, mining and other forms of investment with the government of Venezuela. Washington has also relaxed certain sanctions to allow limited energy-related cooperation and to encourage international investment in Venezuela's resource development sectors. (Wikipedia).
Some experts believe that as a result of the new US-Venezuela diplomatic relationship, it could transform the future economic and political relationships of the two countries; they believe that the energy and mining sectors will have a large influence on the new relationship in the future.
Although the thaw in relations between the US and Venezuela is a major milestone, it is still unclear whether or not there will be a successful political transition in Venezuela because Maduro will be tried and sentenced or found innocent in the United States for his alleged role in the drug trafficking and weapons-related charges, as well as how politics will evolve in Venezuela after it has been through a prolonged crisis.
