Seemingly keen to be re-elected to office when the United States goes to the polls in November next year (the now increasing references to his age and his suitability for another tilt at the White House, notwithstanding) President Joe Biden is aware of the fact that a few eye-catching accomplishments on the foreign policy front are is unlikely to hurt his chances. In that context, he is more than likely to seize such opportunities to re-open Washington’s door to a long-standing strategic ally, Venezuela, which had been slammed shut by his predecessor and possible opponent for the White House, next year, Donald Trump. The sanctions that were imposed on Venezuela’s oil exports back in 2019 have been devastatingly effective. They have sent the Venezuelan economy into a virtual free fall, compelling the Maduro administration to reach out to Iran and Russia, mostly, for some measure of rescue. The help has been welcomed, but it has not been enough. Moscow and Teheran have been unable to fill the ‘holes’ created by the devastating impact which Washington’s embargo has had on Venezuela’s oil earnings, and by extension, on the country’s economy, as a whole.
