Overview
- The State Department announced on March 5 that Washington and Venezuela's interim government reached a deal to restore formal ties.
- Both sides plan to deepen cooperation to rebuild Venezuela's oil industry as a pillar of economic recovery.
- Officials have been discussing the potential reopening of the U.S. Embassy in Caracas.
- Formal relations were cut in 2019 during Nicolás Maduro's rule.
- The agreement follows a January U.S. operation that removed Maduro, after which former vice president Rodríguez became interim president and signaled cooperation with the United States.