On Saturday, the Venezuelan capital, Caracas, witnessed a significant development on the international political scene as formal talks commenced between the Venezuelan government and US envoys, aimed at restoring severed diplomatic relations. This rapid move comes just days after the US military operation that resulted in the capture of Nicolás Maduro and his transfer to the United States, an event that triggered a political earthquake in South America.
Context of diplomatic transformation
The government of interim President Delcy Rodríguez, in an official statement read by Foreign Minister Iván Gil, announced the start of an "exploratory diplomatic process" with Washington. These talks aim primarily to reopen diplomatic missions in both countries, representing a significant shift in relations that have been strained for years. Officials confirmed that a U.S. delegation, including John McNamara, the top U.S. diplomat in Colombia, arrived in Caracas to conduct an initial assessment of the feasibility of a gradual resumption of diplomatic operations.
This event is of paramount importance given the historical background of relations between the two countries, which have been marked in recent years by a complete break and harsh economic sanctions imposed by Washington on Caracas. The current engagement at the negotiating table strongly indicates the desire of both sides to reshape the geopolitical landscape in the region, especially with Venezuela's confirmation of its intention to send a similar delegation to Washington in a reciprocal gesture.
Oil: The main driver of the talks
The diplomatic track cannot be separated from economic ambitions and the global energy landscape. While talks are underway in Caracas, US President Donald Trump is leading an intensive campaign in Washington with major international oil companies. These efforts revolve around exploiting Venezuela's vast oil reserves, which constitute the largest proven reserve in the world and have suffered from years of mismanagement and deteriorating infrastructure.
During a meeting at the White House, Trump urged giant corporations like ExxonMobil to invest in Venezuela's oil sector, promising "complete security" for foreign companies and emphasizing that dealings would be directly with Washington, not Caracas. Despite promises of investments that could reach $100 billion to repair the crumbling infrastructure of Venezuela's state-owned oil company, PDVSA, some CEOs, such as Darren Woods, expressed reservations, stipulating that comprehensive reforms were necessary before any funds would be disbursed.
Repercussions of the political and security situation
Despite the diplomatic opening, tension remains palpable in official rhetoric. Interim President Delcy Rodríguez condemned what she called a "serious and criminal attack" that led to Maduro's arrest, vowing to counter this aggression through diplomatic channels. Meanwhile, Trump stated that he had halted a second wave of attacks, indicating that the release of political prisoners was part of the de-escalation.
On the ground, Washington continues to tighten its grip on resources, having seized a fifth oil tanker in the Caribbean. However, Venezuela's state-owned oil company, PDVSA, demonstrated remarkable cooperation by announcing the return of one of its vessels to Venezuelan territorial waters as part of a "first successful joint operation." This reinforces the hypothesis that the next phase will see direct US management of Venezuela's economy, with plans to sell between 30 and 50 million barrels of crude oil and channel the proceeds exclusively to purchasing US-made products.
