The recent thaw in U.S.-Venezuela ties can be attributed to the ongoing war between Russia and Ukraine, prompting the Biden administration to negotiate with Caracas to address the energy crisis resulting from the conflict. The easing of brutal sanctions against Venezuela’s oil, gas, and mining industries was agreed upon in exchange for President Nicolas Maduro conducting free and fair elections in 2024. This marks a potential end to Venezuela’s international isolation and allows its state-owned oil firm to resume production, potentially restoring access to U.S. financial markets. The road ahead for Venezuela involves overcoming political fragmentation and addressing the socio-economic crisis at home.
What Has Caused the Recent Thaw in U.S.-Venezuela Ties? | Explained
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