Deal with a Different Devil? Oil Markets Are Sending U.S. Leaders to Maduro

Policy

Venezuela’s President Nicolas Maduro addresses the media from the Miraflores Palace in Caracas, Venezuela, August 16, 2021. (Leonardo Fernandez Viloria/Reuters)

On Saturday, the New York Times reported that senior White House and State Department officials were in Caracas engaging in conversations with the Maduro regime. The U.S. has not recognized the regime since dissolving diplomatic relations with Venezuela in 2019 under Donald Trump. The Biden administration, meanwhile, has been distant with the U.S.-recognized Venezuelan opposition and hands-off when it comes to Nicolás Maduro. 

But with oil at over $115 a barrel and the Biden administration considering sanctions on Russian oil imports, the White House is scrambling to find alternative oil sources. The Times also wrote that in the wake of escalatory rhetoric coming

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