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HomeDiplomacyOil in a day’s work: US, Venezuela finally restore diplomatic relations after...

Oil in a day’s work: US, Venezuela finally restore diplomatic relations after Maduro capture

Trump’s Secy of the Interior Doug Burgum announces resumption of diplomatic relations with interim leader Rodríguez, unlocking new oil & mineral wealth even as Iran conflict continues.

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New Delhi: The US and Venezuela have officially re-established diplomatic and consular relations after the dramatic capture of former president Nicolas Maduro by American troops in a January raid on Caracas. The announcement was made on Thursday, following the two-day visit of US Secretary of the Interior Doug Burgum to Caracas. Burgum leads President Donald Trump’s National Energy Dominance Council.

The statement released by the US State Department said: “The United States and Venezuela’s interim authorities have agreed to re-establish diplomatic and consular relations. This step will facilitate our joint efforts to promote stability, support economic recovery, and advance political reconciliation in Venezuela.”

“Our engagement is focused on helping the Venezuelan people move forward through a phased process that creates the conditions for a peaceful transition to a democratically elected government.”

The restoration of ties comes in the wake of the US military raid on January 3 that captured then President Nicolas Maduro and his wife. Both are in the US awaiting trial on weapon and drug offences, which the couple deny.

Interim President Delcy Rodríguez, who assumed office two days after the capture of Maduro, has opened the state-controlled oil and petroleum sector to private investment. Describing the talks with Rodríguez, Burgum called the latest move ‘fantastically positive’ for the Caracas-Washington relations, while underscoring that Venezuela has the world’s largest proven oil reserves.

Beyond oil, Washington is also eyeing vast mineral reserves in Venezuela, including gold, diamonds, and critical minerals such as bauxite and coltan, essential for modern-day electronics. 

In response, Rodríguez has assured the US that her government would provide the ‘right kind of security’ for foreign companies from armed groups that are still active in the country.

Burgum also described the meeting as a strategic move, while noting the importance of Venezuelan oil for the US and Israeli military against the ongoing joint operation against Iran, was launched on 28 February with the killing of Iran’s Supreme Leader Ayatollah Ali Khamenei.

In a statement, Venezuela’s foreign ministry has also expressed its willingness to advance “a new stage of constructive dialogue based on mutual respect and the sovereign equality of states”. In February, the US was in consultation with New Delhi to purchase Venezuelan oil, as India seeks to reduce its dependence on Russian oil.  After the announcement of the India-US Interim Trade Deal, the US President also stated that India will buy more oil from Washington and Caracas.

(Edited by Nardeep Singh Dahiya)


Also Read: West Asia supply hit, US ‘allows’ 30-day waiver to India for purchase of Russian oil stranded at sea


 

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1 COMMENT

  1. If the USA thinks it will control all energy resources across the world, it is gravely mistaken. Every country seems to be in a wait and watch mode and rightfully so. The recent actions of USA will be taught in history books in the future and will be again categorized as yet another attempt at colonization. The blatant display of greed would one day be its undoing.

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