Venezuela’s government and its opposition on Saturday agreed to create a UN-managed fund to finance health, food, and education programs for the poor, while the Biden administration eased some oil sanctions on the country in an effort to boost the newly restarted talks between the sides.
The agreement signed in Mexico City by representatives of President Nicolás Maduro and the opposition, including the faction backed by the United States and led by Juan Guaidó, marked the resumption of long-stalled negotiations meant to find a common path out of the South American country’s complex crisis.
The U.S. government, in response, agreed to allow oil giant Chevron to pump Venezuelan oil.
The broad terms of the agreement for the UN-managed social fund were announced by the head of a group of Norwegian diplomats guiding the negotiations.
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