Mapping
Source: TH
Context: The recent thaw in U.S.-Venezuela relations is due to Maria Corina Machado’s victory in the opposition primary and the Biden administration’s decision to ease sanctions on Venezuela’s oil and mining sectors in exchange for fair elections in 2024. Geopolitical shifts related to the Russia-Ukraine conflict also played a role. The sanctions relief is expected to revive Venezuela’s economy.
About Venezuela:
It is a country on the northern coast of South America.To the northwest are the Andes Mountains and the colonial town of Mérida, a base for visiting Sierra Nevada National Park. Caracas, the capital, is to the north.
The country’s economy is strongly depending on hydrocarbons, as well as on loans from China and Russia. Traditionally, petroleum represents more than 85% of Venezuela’s exports.
