“We are willing to walk a new path in our relations with Joe Biden’s government based on mutual respect, dialogue, communication and understanding,” the leftist leader told supporters, adding that he “is willing to turn the page” with the new US administration.

The Trump administration had slapped multiple economic sanctions on Venezuela, including an oil embargo in place since 2019, in an attempt to overthrow the socialist regime of Maduro, whom the US has labelled a dictator.

After years of a frosty relationship, Caracas and Washington fully broke diplomatic ties on Jan 23, 2019, when the US government recognised opposition leader Juan Guaido as Venezuela’s interim president.

After Biden won the US presidential election in November, Maduro congratulated the longtime politician saying Venezuela was “ready for dialogue and good understanding with the people and government of the US”, repeating those sentiments again in December.

Analysts believe the Biden administration will take a more moderate stance on Venezuela and will support international mediation for the transition towards a new government.

According to the UN, more than five million Venezuelans have left the country since 2015, fleeing political and economic turmoil.