The United States and Venezuela will restore “diplomatic relations” that were severed in 2019, the U.S. State Department announced on Thursday, with Caracas calling for a relationship based on “mutual respect.”
“The United States and Venezuelan interim authorities have agreed to reestablish diplomatic and consular relations” to “facilitate joint efforts” towards economic recovery and reconciliation, according to a statement from the State Department, without further details.
Shortly thereafter, in a statement from its Ministry of Foreign Affairs, the government led by interim President Delcy Rodriguez, who has been in charge of the country since the capture of Nicolas Maduro on January 3 during a U.S. military operation, stated that it “reaffirms its commitment to moving forward in a new stage of constructive dialogue, based on mutual respect, sovereign equality of states, and cooperation between our peoples” for a “positive and mutually beneficial relationship.”
This announcement comes as U.S. Interior Minister Doug Burgum wrapped up a two-day visit to Venezuela on Thursday, expressing confidence in the country’s mining and oil prospects.
Known for his proximity to the oil and mining industry, Mr. Burgum stated before leaving Caracas that Venezuela would ensure the security of mining companies operating in the country and was confident in the increase of its oil production amidst tensions over crude oil prices due to the Middle East conflict.
“I am very optimistic about an environment where investments will flow, not only towards oil and gas offshore, not only towards Caracas, but also towards the interior of the country, where these considerable resources are currently located,” Burgum told the press.
Under pressure from the United States, Ms. Rodriguez, who has already hosted several American officials, initiated a revision of the hydrocarbons law to open up the sector to private investment, enacted an amnesty to facilitate the release of all political prisoners, and announced a judicial reform.
She also promised a review of the mining code, specifying during her meeting with Mr. Burgum on Wednesday that the Assembly would work on the text on Monday.
Venezuela is rich in minerals such as gold, diamonds, bauxite, coltan, and other rare minerals used in computer and mobile phone production. Mining activities are concentrated in an area of 112,000 square kilometers called the Mining Arc, a very unstable region with the presence of armed groups, including guerrillas and organized gangs.
Moreover, the NGO SOS Orinoco has raised concerns about a reduction of 945,000 hectares of forest area since 2000, based on satellite image analysis.
Mining exploitation has also been criticized due to the lack of transparency surrounding it.
Minister of the Interior, and also President of the U.S. National Council for Energy Dominance, expressed optimism about Venezuela’s oil production following the revision of the hydrocarbons law.
“Regardless of the goals set for oil and gas production by 2026, I am convinced that Venezuela will not only achieve them but even surpass them,” he said.
Washington imposed sanctions on the oil and gold sector of this country after Mr. Maduro’s reelection in 2018 following an opposition boycott of the election.
Since the capture of Nicolas Maduro, Donald Trump has taken control of the oil sector and slightly eased sanctions against Venezuela.
Mr. Burgum’s visit comes two weeks after that of U.S. Energy Minister Chris Wright, who visited oil sites in the country.
“The people are concerned about oil and gas prices in America… Venezuela, with its resources, is undeniably a huge win for Venezuela, a huge win for America,” Burgum commented.
Venezuela, which holds the largest oil reserves in the world, aims to increase its crude oil production by 18% in 2026. It produced 1.2 million barrels per day in 2025, after hitting a record low of around 360,000 barrels per day in 2020, a figure still far from the three million extracted daily at the beginning of the century.
Published on March 6 at 02:09, AFP
