In the midst of a series of dialogues that have been taking place in the Mexican capital between the administration of Nicolás Maduro and opposition groups, thanks to the recent intervention of Norway with the support of Mexico and the United States, the delegations agreed to request the United Nations (UN) for the creation of an international aid fund.

The agreement, which occurs in the midst of a dispute of several years between the two parties, indicates that Venezuela's foreign reserves must be invested in the creation of a humanitarian fund, still without a specific date, to import food and medical equipment into the country. 

The fund, which will be managed by UN officials and a joint committee of 10 Venezuelan representatives and a representative of Norway's foreign minister who will oversee spending, is scheduled to operate for the next three years.

Nuestros objetivos son lograr la elección libre que nos deben, atender la emergencia humanitaria y recuperar la democracia.

Ejercer mayoría en las calles como hoy en #Portuguesa, convocar una primaria y de la posibilidad de un acuerdo en México son herramientas para alcanzarlos. pic.twitter.com/MLI4gv90mH

— Juan Guaidó (@jguaido) November 27, 2022

US concessions

Washington has also been changing its position regarding its relations with Venezuela, especially after the start of the war between Russia and Ukraine.

While some sanctions remain in place while democratic elections are held in the South American country, CNN reported that it was also announced last Saturday that the United States granted Chevron limited authorization to resume oil extraction from Venezuela following the announcement and, as news, the two sides will continue to negotiate a solution to the country's economic and political crisis, including a focus on the 2024 elections.

La firma del segundo acuerdo parcial entre el Gobierno Bolivariano que presido y la Plataforma Unitaria de una de las oposiciones, abre paso a un nuevo capítulo para Venezuela, en función de seguir avanzando hacia la Paz y el bienestar que todas y todos los venezolanos anhelamos. pic.twitter.com/PcVeXKlDbM

— Nicolás Maduro (@NicolasMaduro) November 26, 2022

Venezuelan crisis

According to the UN, more than seven million Venezuelans live abroad due to the country's crisis, which became unsustainable after the price of oil, Venezuela's main export, collapsed in 2014.

The difficult economic situation led to the internal conflict escalating in 2019 into an institutional dispute between the Maduro government and opposition leaders, led by Juan Guaidó, who were claiming the presidency.

Despite the international support obtained by Guaidó, Maduro maintained control over the country's institutions and the Armed Forces, which has kept the opposition's hands tied.

CNN highlights how, despite the relief of the economic crisis in recent months, thanks to a renewal in oil prices, liberalization reforms, and an informal dollarization of the economy, more than 80% of Venezuelans still live below the poverty line according to an independent survey carried out by the Andrés Bello Catholic University in Caracas.