The parties agreed, after a 15-month pause in talks, that a fund led by the United Nations should be created to support health, food and education programs for Venezuela’s many poor.
They also agreed on continued talks ahead of the next presidential election, which is scheduled for the South American country in 2024.
The agreement was signed in Mexico City by representatives of Venezuela’s dictatorial president Nicolás Maduro and opposition leader Juan Guaidó.
The reward came quickly, when the United States announced shortly thereafter that one of its major oil companies – Chevron – will again be allowed to operate in Venezuela.
“We join the international community in welcoming the resumption of negotiations,” said a senior US official on the talks in Mexico.