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Publications » U.S. Bilateral Relations Fact Sheets » Venezuela
U.S. Relations With Venezuela

Bureau of Western Hemisphere Affairs
Fact Sheet
July 20, 2015

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More information about Venezuela is available on the Venezuela Page and from other Department of State publications and other sources listed at the end of this fact sheet.

U.S.-VENEZUELA RELATIONS

Following Venezuela’s withdrawal in 1830 from its federation with Colombia, the United States established diplomatic relations with Venezuela in 1835, and has maintained a generally close relationship with Venezuela throughout most of its history. However, the U.S.-Venezuelan bilateral relationship has been tense in recent years due to a variety of policy differences.

Venezuela’s recent presidents, the late Hugo Chavez (1999-2013) and Nicolas Maduro (inaugurated April 19, 2013), have largely defined themselves through their opposition to the United States, regularly criticizing the U.S. Government, its policies, and its relations with Latin America. President Maduro has also continued his predecessor’s policies, notably what the Government refers to as "21st Century Socialism," which is characterized by an outsized role for the executive, centralization of state command over the economy and efforts to achieve greater economic and political integration among nations in Latin America and the Caribbean. Both nations continue to maintain diplomatic relations and embassies in one another’s capitals, each headed by Chargés d’ Affaires.

U.S. Assistance to Venezuela

U.S. assistance to Venezuela supports the defense of human rights, the promotion of a vibrant civil society, and the strengthening of democratic institutions. Venezuela is currently subject to certain restrictions on U.S. foreign assistance.

Since 2005, the President has annually determined that Venezuela has “failed demonstrably” to adhere to its obligations under international counter-narcotics agreements and to take certain counter-narcotics measures. The President has waived these restrictions with respect to programs that are vital to the national interests of the United States, such as human rights and civil society programs.

Pursuant to section 40A the Department of State since 2006 has annually determined that Venezuela was “not cooperating fully” with U.S. counterterrorism efforts. Under this provision, defense articles and services may not be sold or licensed for export to Venezuela during the relevant fiscal year.

Bilateral Economic Relations

The United States is Venezuela's largest trading partner. Bilateral trade in goods between both countries reached $41.4 billion in 2014. U.S. goods exports to Venezuela totaled $11.1 billion, while imports from Venezuela totaled $30.2 billion. U.S. exports to Venezuela include oil machinery, organic chemicals, agricultural products, optical and medical instruments, autos and auto parts. Crude oil dominates U.S. imports from Venezuela, which is one of the top five suppliers of foreign oil to the United States. About 500 U.S. companies are represented in Venezuela. U.S. foreign direct investment in Venezuela is concentrated largely in the petroleum and manufacturing sectors.

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