Hello, and welcome to the Latin America Weekly newsletter! In this issue: Venezuela and the U.S. enjoy a rare moment of rapprochement. An update to abortive rights in Latin America. Colombia’s election season kicks off. Costa Rica legalizes medical marijuana.
Russian conflict warms U.S.-Venezuelan relations
War can often bring about unpredictable consequences, but few developments related to the Russo-Ukrainian war will be as curious as what transpired between the U.S. and Venezuela this week. Faced with rising oil prices and the fallout from Russian sanctions, the Biden and Maduro administrations are exploring whether the two adversaries can establish some common ground after two decades of hostilities.
Why it matters. Venezuela is among the few potential winners from conflict in Ukraine, as it holds some of the world’s largest oil reserves.
- Traditionally the biggest buyer of Venezuelan oil, the U.S. cut off most economic ties with Nicolás Maduro’s government while Donald Trump was in the White House, leading to heightened sanctions on the country’s oil industry and officials. But priorities have now changed, with President Biden confirming a ban on Russian oil imports yesterday, making Venezuela a potential replacement source.
- The rapprochement has a geopolitical dimension as well, given...