The US restored relations with Venezuela

On March 5, the US State Department issued a statement saying that re-establishing diplomatic and consular relations with Venezuela “will facilitate our joint efforts to promote stability and support economic recovery in Venezuela”.

Venezuela’s Foreign Ministry also said that relations with the US will “advance to a new stage of constructive dialogue, based on mutual respect, sovereign equality between the two countries and cooperation between the two peoples”. Venezuela believes that the renewed relationship with the US will be “positive and mutually beneficial”.

The announcement was made a few hours after US Secretary of the Interior Doug Burgum, in charge of the national energy sector, ended a two-day visit to Venezuela. Burgum said he had received assurances from Caracas to allow foreign mining companies wanting to invest in Venezuela.

The US Secretary of the Interior added that dozens of companies have expressed interest in investing in Venezuela. He also evaluated the meeting with Venezuelan interim President Delcy Rodriguez “extremely positive”.

Mr. Burgum is the second high-ranking US official to visit Venezuela since Washington launched a raid campaign earlier this year to arrest President Nicolas Maduro and his wife, causing tension in bilateral relations. Ms. Rodriguez later became interim President of Venezuela.

After the campaign, the US took control of Venezuela’s oil exports. Proceeds from selling Venezuelan oil are transferred to a US-supervised fund in Qatar.