Venezuela confirms talks with US as Washington pushes oil plans

CARACAS,

Venezuela has announced the initiation of discussions with the United States focused on the restoration of diplomatic relations, following the recent military operation in which US forces removed and detained former president Nicolas Maduro, significantly altering the political landscape of the country.

The announcement signifies the most explicit indication to date of cautious interaction between Caracas and Washington following the operation on January 3, which Venezuelan officials claim resulted in a death toll of at least 100 individuals. In 2019, diplomatic relations between the two countries were officially cut, resulting in the closure of embassies due to increasing sanctions and political tensions.

On Friday, Foreign Minister Yvan Gil announced that the interim government under Delcy Rodriguez had approved a “exploratory diplomatic process” with the United States, intended to restore diplomatic missions in both nations. He stated that the action represented a choice to engage in dialogue, even in light of the government's ongoing characterisation of the US attack as a violation of Venezuelan sovereignty.

American diplomats have been confirmed by US officials to be in Caracas, evaluating the conditions for a gradual resumption of embassy operations. A US official, who requested to remain unnamed, stated that John McNamara, the leading US diplomat in neighbouring Colombia, visited the Venezuelan capital alongside other personnel to carry out an initial security and logistical assessment. Venezuelan authorities announced their intention to respond by dispatching a delegation to Washington.

Rodriguez, who took on interim leadership after Maduro’s ousting, denounced what she characterised as a “serious, criminal, illegal and illegitimate attack” by the United States. Nevertheless, she stated that Venezuela would persist in addressing the situation through diplomatic channels, emphasising that the nation was “not subordinate or subjugated” even while interacting with Washington.

The discussions arise as US President Donald Trump has expressed assurance regarding Washington’s sway in Venezuela, simultaneously encouraging US oil companies to invest in the nation’s extensive energy reserves. Venezuela possesses the largest proven crude reserves globally; however, years of mismanagement, sanctions, and underinvestment have significantly harmed its oil infrastructure.

During a meeting at the White House on Friday, Trump encouraged senior oil executives to explore investment opportunities in Venezuela. The response was measured, with ExxonMobil chief executive Darren Woods reportedly labelling the country as “uninvestable” without significant political and legal reforms, pointing to insufficient protections for foreign companies.

Trump contended that circumstances had significantly shifted, informing executives that they would now experience “total security” in what he referred to as “a whole different Venezuela”. He stated that foreign companies would engage solely with Washington instead of Caracas when tapping into Venezuelan oil resources. The US president reiterated assertions that oil companies had committed to potential investments of up to $100 billion, though no public confirmations were made.

Previously, Trump stated that the United States intended to sell between 30 million and 50 million barrels of Venezuelan crude, with the proceeds to be utilised at his discretion. He stated that any funds sent to Caracas would be limited to the acquisition of US-made products.

In the meantime, Venezuelan authorities have initiated the release of political prisoners, a decision that Washington stated was achieved through negotiations. Emotional scenes emerged outside detention centres in Caracas as relatives anxiously awaited news of their loved ones.

“When I heard the news, I broke down,” said Dilsia Caro, whose husband, Noel Flores, was imprisoned after speaking out against Maduro. The releases commenced on Thursday, representing the initial gesture of this kind since US forces apprehended Maduro during the operation in January.

Trump informed Fox News of his intention to meet with opposition leader Maria Corina Machado next week, even after expressing doubts about her leadership qualifications. Exiled opposition figure Edmundo Gonzalez Urrutia emphasised that any democratic transition must acknowledge his assertion of victory in the contested 2024 presidential election, which Maduro was announced to have won amidst extensive allegations of fraud. Gonzalez expressed his hopes for the release of his son-in-law, who has been detained in Caracas for a year.

Even with the diplomatic efforts, tensions continue to run high in the streets of the Venezuelan capital. On Friday, protests persisted as demonstrators called for Maduro’s release and expressed their opposition to US involvement in the nation’s affairs.

“We shouldn’t give a single drop of oil to Trump after everything he has done to us,” stated Josefina Castro, a 70-year-old civil activist participating in the demonstrations. “The loss of our Venezuelan brothers in the attack is deeply painful.”

Maduro and his wife, Cilia Flores, were transported to New York after the operation and are confronting drug trafficking and additional charges in US courts. Venezuelan officials assert that the legal proceedings highlight what they characterise as foreign aggression, while the interim government carefully considers renewed diplomatic engagement with Washington.