Mercosur to discuss possible return of Venezuela to membership in economic union

South America’s Mercosur economic union is set to discuss Venezuela’s possible return to the South American trading bloc, Bloomberg reported.

The bloc’s members have been warming up to Caracas since the ouster of President Nicolas Maduro by U.S. troops earlier this year.

Brazilian Vice President Geraldo Alcmin said the group could reconsider suspending Venezuela as the country enters a “different moment.” It signals a potential shift in regional dynamics after years of isolation.

Venezuela’s reengagement with Western institutions has gained momentum since Delcy Rodriguez became acting president and began to mend ties with the United States.

The International Monetary Fund said last week it would resume formal contacts, opening the door to possible access to multilateral financing.

Caracas is also seeking foreign investment in its energy and mining sectors, with U.S. support, as global supply problems intensify. U.S. President Donald Trump has decided to ease sanctions on the country’s key financial institutions and granted new licenses to American oil companies to expand operations in the country.

Tags: Mercosur, Venezuela