It may not mark a definitive turning of the proverbial corner in terms of relations between Venezuela and the United States but watchers of the situation, however, are seeing the decision by the Biden administration to allow the United States oil giant Chevron a further extension on top of those previously granted under former President Donald Trump to maintain a limited presence in Venezuela, as a sign that small cracks may be opening that could allow for a cooling of what, in recent years, have been tense, even acrimonious relations between the two countries.
Venezuela, Guyana’s neighbour to the west, has seen its once powerful oil industry diminish disastrously on account of the crippling sanctions imposed by the Trump administration, targeting the regime of President Nicolas Maduro. Utilising its mix of global political clout and economic influence, Washington has pursued a campaign of mostly economic pressure to stop shipping companies from moving Venezuela’s crude to external markets. Russia, China and Iran are among a handful of countries that pushed back against the sanctions.
