As detainees granted ‘alternative’ to imprisonment, US welcomes release as crucial step for Venezuela’s reconciliation.

For the White House, the talks are a demonstration of its commitment to democracy even as it pursues its economic ambitions. On Friday, Trump announced that Venezuela had agreed to give the U.S. majority-control of about a third of its proven oil reserves, which he described on social media as a “partnership with private business.”

US-backed political transition talks between Venezuela's interim government and opposition representatives began Thursday in Caracas, an AFP photographer in attendance observed.- 'Unique opportunity'

The government of Delcy Rodriguez held its first talks with part of Venezuela's opposition. But what will they achieve?

Scenes of joy are occurring in Venezuela as nearly 80 political prisoners are experiencing freedom for the first time in years.

The two governments have made few details available about how the arrangement would work, and have yet to explain where the new investment would come from.

Moreover, Venezuela’s oil sector, Mr Trump’s priority, is not booming, which is making economic stabilisation harder (see chart). The government’s sluggishness in clarifying the new tax regime and investor doubts about the rule of law have resulted in few oil deals so far.