The United States and Venezuela’s interim government have agreed to restore diplomatic and consular ties, the US State Department said in a statement. The department said its priority is to help create the conditions for a peaceful transition to a democratic government.
The move marks a thaw after US authorities captured Venezuelan President Nicolás Maduro in January 2026 and transferred him to the United States to face criminal charges. The US had ceased to recognize Maduro’s administration during President Donald Trump’s first term and withdrew diplomats, suspending operations at the US embassy in Caracas in 2019.
In a related development, Venezuelan officials pledged security protections for foreign mining firms, a US official said. Interior Secretary Doug Burgum, finishing a two-day visit to Venezuela accompanied by representatives of several mining and mineral companies, told reporters he received assurances that the government would “ensure” the safety of foreign investors. Burgum said dozens of companies had already expressed interest in investing in the country.
Venezuela is endowed with large oil reserves and significant mineral wealth — including deposits of gold, diamonds, bauxite, coltan and other materials used in electronics and mobile phones. However, nationalizations under President Hugo Chávez (1999–2013) and subsequent policies have kept foreign investment at low levels over the past decade. Much of the country’s mining is concentrated in the Orinoco Mining Arc, a region where armed groups remain active and security challenges persist.
The huge problem with Venezuela’s oil
Edited by: Sean Sinico