Things seemed to be looking up for Venezuela in 2022. Following years of authoritarian rule and withering economic sanctions, President Nicols Maduro had agreed to work toward a democratic presidential election. The White House, in return, granted him a financial lifeline: a permit for US energy giant Chevron to pump and export Venezuelan oil.
Oil wells roared back to life and massive tanker ships returned to Venezuela's coast to be filled with heavy, hard-to-refine crude destined for the US.
Maduro's promised election was neither fair nor free, and the longtime president was sworn in this month for a third six-year term despite credible evidence that his opponent got more votes. Yet, the sanctions reprieve the US offered to support the restoration of democracy is still helping fill state coffers.
Venezuela's opposition says Maduro's government has earned billions of dollars from exports allowed by the permit.
The White House has ignored calls from the main opposition coalition, as