The United States has not acknowledged the legitimacy of Venezuelan President Nicolás Maduro's administration. The United States considers Juan Guaidó as the legitimate President of Venezuela despite Maduro controlling nearly every lever of power in the country.
The Maduro administration and allies of the opposition party have been considering talks over the last few months to set up new elections. Talks between the two sides are set to begin this Saturday.
"We have long made clear that we believe the best solution to Venezuela is a negotiated one between Venezuelans, and Venezuelan-led, and in order to encourage that... we are willing to provide targeted sanctions relief based on concrete steps that alleviate the suffering of Venezuelan people and bring them closer to a restoration of democracy through free and fair elections," the US official said during a conference call.
If talks are successful, The United States may loosen sanctions on Venezuela, paving way for more oil exports from the country.