In Venezuela, the U.S. Puts Politics Aside to Unlock More Oil Exports

While a full removal of sanctions is unlikely, the United States' new outreach to Venezuela may yield a narrow agreement allowing new exemptions for some Venezuelan oil exports, as Washington seeks to mitigate the oil shortages and subsequent price increases created by Russia's invasion of Ukraine. The U.S. State Department on March 9 announced the release of two Americans held in Venezuela, including Gustavo Cardenas, a former oil executive detained in Venezuela since 2017. ​​On March 5, senior U.S. officials traveled to Venezuela to directly meet with officials from the administration of President Nicolas Maduro. The two sides reportedly discussed easing U.S. sanctions on Venezuela's oil and gas exports in exchange for small political concessions from Caracas, which could include releasing political prisoners or ending discriminatory practices against members of opposition parties. Little progress was made toward reaching such an agreement, though negotiators agreed to continue holding talks. Separately, U.S....