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Nicole Gaouette of Bloomberg suggests that Obama might be trying to reset relations with Venezuela, taking advantage of the improvement of US relations with Cuba and of Venezuela's own internal difficulties.

State Department officers have been meeting quietly with officials in the leftist government of President Nicolas Maduro since April to develop what Secretary of State John Kerry has called “a normal relationship.”

The outreach is another test of President Barack Obama’s 2009 inaugural pledge to “extend a hand” to repressive and corrupt regimes if they are “willing to unclench” their fists.

Falling oil prices, plummeting foreign reserves, a 68.5 percent inflation rate and growing political tensions are battering Venezuela. There’s enough at stake that even a Justice Department probe into the alleged drug ties of the lead Venezuelan in the talks hasn’t derailed the diplomacy.

“The U.S. has a broader goal here, no matter what they think about the Venezuelan government,” said Christopher Sabatini, a Latin American studies professor at Columbia University in New York. “The goal is to prevent a black hole that will suck in other Latin American economies.”

One frequent critic of the administration’s foreign policy has cautious praise for the effort. “I’m very glad the administration is trying to deal with them” on political repression and staging fair elections in December, said Senator Bob Corker, the Tennessee Republican who heads the Senate Foreign Relations Committee.
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