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U.S. Restores Ties with Venezuela Amid Oil Trade Deal

2/4/2026

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Story summary
  • The United States is restoring diplomatic ties with Venezuela after the capture of Nicolás Maduro (president of Venezuela).
  • Discussions focus on energy cooperation, economic collaboration, and a political transition.
  • U.S. President Donald Trump announced a trade deal with India to boost U.S. and Venezuelan oil exports and reduce Russian oil imports.
  • Venezuela's oil production remains low because Asian buyers are hesitant due to pricing issues.