(MENAFN) Venezuela has presented the United States with extensive economic concessions, including a possible agreement to allow American firms to acquire a significant share in its oil industry, according to a report by a media outlet on Friday, which cited anonymous sources.

Despite these proposals, Washington reportedly declined the offer, with the political status of President Nicolas Maduro remaining a major obstacle.

In recent weeks, the US has carried out military strikes near Venezuela’s coastline targeting what it described as “drug boats,” resulting in the deaths of over two dozen individuals and an increased military presence in the area.

US authorities have accused Maduro of connections to drug trafficking networks, an allegation he firmly rejects.

Caracas, on the other hand, has accused the US of attempting to orchestrate regime change, an accusation that American officials have denied.

Nevertheless, unnamed US and Venezuelan sources told the media outlet that beneath the public animosity, Caracas made a broad diplomatic overture to Washington.

This proposal reportedly included an offer to allow American companies access to all current and future oil and gold ventures, provide US businesses with favored contracts, shift Venezuela’s oil exports away from China towards the United States, and reduce energy and mining agreements with companies from China, Iran, and Russia.

MENAFN13102025000045017167ID1110186937