The RV-1 reactor, constructed by General Electric and inaugurated in December 1960 under President Rómulo Betancourt, operated as a scientific research center under the Atoms for Peace program. The facility had been closed for years but retained enriched uranium fuel supplied decades earlier. The IAEA confirmed its participation in the operation on May 8, stating the removal adhered to international standards and supported global efforts to reduce proliferation risks by eliminating highly enriched uranium from research reactors worldwide.
The extraction operation followed the restoration of diplomatic relations between the United States and Venezuela after the capture of Nicolás Maduro in January. This political shift enabled direct coordination between both governments and international agencies. The State Department emphasized that the IAEA played a fundamental role in demonstrating effective capacity to reduce nuclear risks globally. The U.S. has removed over 7.3 metric tons of weapons-usable nuclear material from various countries under its broader non-proliferation initiatives.
Bilateral trade data indicates the diplomatic thaw has produced immediate economic effects. Commerce between the two nations increased 22.7 percent in the first quarter of 2026, reaching $3.29 billion, with crude oil representing 96.5 percent of Venezuelan exports according to the Venezuelan-American Chamber of Commerce. Under interim President Delcy Rodríguez, Venezuela eliminated restrictions on foreign capital in the petroleum sector while Washington relaxed sanctions and issued operational licenses to American companies. Coffee emerged as the second most significant export product to the U.S. market, while cereals, electrical equipment, and animal feed dominated imports from the United States.
This article was curated and published as part of our South American energy market coverage.
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