On Saturday, Venezuelan President Nicolas Maduro celebrated the capacity of his compatriots to find solutions to the effects of the U.S. sanctions against the Bolivian nation.

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“In these years of blockade, sanctions and aggressions, we have learned to innovate and create solutions. We are the people who overcome difficulties,” he stressed.

For over two decades, U.S. foreign policy towards Venezuela has been marked by economic and political actions aimed at combating the consolidation of the Bolivarian revolution set by the late President Hugo Chavez (1999-2013).

Framed within a supposed “defense” of democracy in the Americas, the U.S. initiatives Have been accompanied by attempts to force a “regime change”. 

One of the peaks of these interference actions came from the imposition of international sanctions against the Bolivarian nation, which have generated tensions in relations between Washington and Caracas.

The U.S. policy based on old-fashioned imperial pretensions, however, has had a resounding failure due to the resilience of the Bolivarian people, which has allowed the Venezuelan state to preserve broad margins of action in domestic and international politics.

The dialogue with the opposition continues

In August 2021, the Venezuelan state began a dialogue process with some sectors of the right-wing opposition aimed at regularizing their electoral participation according to the parameters established by the Bolivarian constitution and laws.

Nevertheless, shortly after its beginning, the dialogue process had a first suspension when Venezuelan ambassador Alex Saab was illegally extradited to the United States.

A year later, the dialogue experienced another obstacle when Washington and its allies did not agree to release US$3 billion that Venezuela kept abroad but that had been frozen due to sanctions.

In 2023, talks between the Venezuelan state and the political opposition produced an agreement in Barbados through which authorities guaranteed conditions so that political forces could hold primary elections before the 2024 presidential elections.

The US eases its harassment

In the second half of 2023, the United States and Venezuela held confidential dialogues after four years of interrupting direct diplomatic contact.

These conversations allowed both the release of diplomat Saab, who had remained in a US prison for more than 2 years, and the release of ten U.S. citizens and some 21 right-wing activists, who had been involved in attempts to destabilize Venezuela.

Another effect of the relaxation of tensions between Washington and Caracas were bilateral commitments with a view to the Venezuelan presidential elections of 2024.

Among them is a relative easing of economic sanctions that former President Donald Trump established and President Joe Biden continued and deepened.

Venezuelan output increases

The temporary lifting of some U.S. sanctions has allowed Venezuela to improve its capacity to produce and market oil and gas through agreements signed between the state-owned Petroleum of Venezuela (PDVSA) and international companies such as Maurel & Prom (France) and Repsol (Spain).

In November 2023, for instance, Venezuelan oil production increased at an interannual rate of 15.5 percent and reached an average of 801,000 barrels per day, according to the Organization of Petroleum Exporting Countries (OPEC).

Inside the country, the relaxation of US sanctions has also been reflected in an increase in the production of basic goods. At the end of December 2023, Venezuelan corn production increased by 35 percent compared to the previous year and reached 1,350 tons.

This process was also accompanied by a 40 percent increase in the number of hectares planted with this product, which reached 350,000 hectares by the end of 2023.

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