US, Venezuela restore ties as Washington pushes for minerals access
2026-03-06 - 04:13
US Interior Secretary Doug Burgum speaks to the media at the conclusion of his two-day official visit to the country. (EPA Images pic) MAIQUETIA: Venezuela and the United States are restoring diplomatic ties, the two countries announced Thursday, in a new sign of thawing relations after Washington ousted former president Nicolas Maduro. The announcement came as US Interior Secretary Doug Burgum wrapped up a two-day trip to Venezuela, part of US President Donald Trump’s push for greater access to the country’s mineral wealth. The re-establishment of diplomatic and consular relations “will facilitate our joint efforts to promote stability, support economic recovery, and advance political reconciliation in Venezuela,” the US State Department said. “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.” Venezuela’s foreign ministry said it would “move forward in a new stage of constructive dialogue, based on mutual respect, the sovereign equality of states and cooperation between our people,” adding that the renewed ties would be “positive and mutually beneficial.” The announcement came hours after Burgum, a member of Trump’s cabinet who leads the National Energy Dominance Council, said he had received assurances from Caracas that the government would ensure the security of foreign mining companies keen to invest there. Burgum, who held talks with interim president Delcy Rodriguez during his trip, said dozens of companies had expressed interest in investing in Venezuela. He told reporters his meetings were “fantastically positive,” and predicted Venezuela would surpass its oil and gas production targets in 2026. Trump’s administration says it effectively runs Venezuela and controls the country’s vast natural resources after toppling Maduro. Burgum is the second senior US official to visit since the bombing raid on January 3 that left around 100 people dead and saw Maduro and his wife flown to New York for trial on drug trafficking charges. Besides oil, Venezuela is rich in minerals such as gold and diamonds, as well as bauxite, coltan and other rare materials used to make computers and mobile phones. Venezuela has the world’s largest proven oil reserves, and Rodriguez last month overhauled the state-controlled oil sector to enable a wave of private investment. She now has her sights set on updating the mining code.