US Energy Secretary Chris Wright visited Caracas to formalize a dramatic shift in relations with Venezuela’s interim government, focusing on rebuilding the nation’s energy sector following the capture of Nicolas Maduro.
US Energy Secretary Chris Wright met interim leader Delcy Rodriguez in Caracas on Wednesday, marking the highest-level American visit since the January 3 capture of Nicolas Maduro. Wright characterized the meeting as a turning point, predicting a “dramatic turn” in bilateral trade and diplomatic relations. He emphasized that President Trump is “passionately committed” to transforming ties between the former adversaries.
The diplomatic thaw centers on Venezuela’s vast oil reserves, which account for roughly one-fifth of the world’s proven supply. Despite holding 303 billion barrels, the nation’s output has remained crippled by years of mismanagement and sanctions. Wright declared the US oil embargo “essentially over,” signaling a major shift intended to revitalize the South American nation’s energy sector and global market standing.
Interim President Rodriguez welcomed a “long-term productive partnership” while opening the once-nationalized oil sector to private investment. The Trump administration is now pushing US oil majors to rebuild infrastructure and rapidly increase production to lower global energy prices. Rodriguez noted the importance of addressing “historical differences in a mature manner” as the two nations navigate this unprecedented political transition.
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