Venezuela’s Secret Diplomatic Overture to the U.S. Collapses Over Maduro’s Political Future

Caracas, October 12 — Venezuela secretly offered the United States sweeping economic concessions — including the possibility of granting major stakes in its vital oil sector to American companies — in a series of undisclosed talks that lasted for several months, The New York Times reported on Friday, citing officials familiar with the discussions.

According to the report, Washington ultimately rejected the offer, with the political fate of Venezuelan President Nicolás Maduro emerging as the key obstacle to any potential deal.

In recent weeks, tensions between the two nations have sharply escalated. The U.S. military has carried out a string of operations off Venezuela’s coast against what it described as “drug boats,” killing more than two dozen people and expanding its naval presence in the Caribbean. Washington has long accused the Maduro government of having ties to narcotics trafficking — allegations that Caracas vehemently denies.

While both sides have publicly traded accusations — Venezuela accusing the U.S. of plotting regime change and Washington rejecting the charge — senior officials from both countries reportedly engaged in a months-long diplomatic backchannel.

The New York Times report revealed that Caracas made a far-reaching proposal that included opening all existing and future oil and gold projects to U.S. companies, offering preferential contracts to American firms, redirecting Venezuelan oil exports from China to the United States, and scaling back energy and mining deals with China, Iran, and Russia.

The talks, held between Maduro’s senior aides and U.S. envoy Richard Grenell, were aimed at easing tensions and exploring a possible economic thaw. Though progress was said to have been made on economic terms, the two sides failed to bridge deep differences over Maduro’s political future.

According to the report, U.S. Secretary of State Marco Rubio — a leading voice in President Donald Trump’s administration on Latin American affairs — strongly opposed the diplomatic overture, favoring a tougher stance against Caracas. Rubio reportedly viewed Grenell’s outreach as a potential setback to Washington’s long-standing efforts to isolate Maduro’s government.

An earlier New York Times investigation also noted that President Trump personally ordered the suspension of dialogue with Venezuela after becoming frustrated with Maduro’s refusal to relinquish power. The report suggested that the U.S. had even begun formulating plans for a possible military escalation in the region.

In response, Maduro warned that any foreign aggression would be met with what he termed an “armed struggle,” placing Venezuela’s military on high alert nationwide.

The failed backchannel talks highlight the deep mistrust and geopolitical friction that continue to define U.S.–Venezuela relations, even amid Caracas’s apparent willingness to make far-reaching economic compromises in search of relief from crippling sanctions and international isolation.