“We are definitely now into the first steps of a true transition to democracy,” Ms Machado said during an event in Washington, adding that this will have an “immense impact in the lives of all Venezuelans” as well as around the region and world.

Earlier, she insisted she will be elected president “when the right time comes” despite the US sidelining her after overthrowing Nicolas Maduro.

RTE full report

Bloomberg report with video

Why is Venezuela’s heavy crude particularly attractive for the US?

The United States’ bid to control Venezuela’s oil sector after abducting Venezuelan President Nicolas Maduro has shone a spotlight on the type of crude held by the Latin American country.

Nearly 70 percent of US refining capacity is designed for heavier crude, according to the American Fuel and Petrochemical Manufacturers, a relic of heavy investment made before the more recent boom in shale drilling.

Many of the US refineries along the coast – Texas and Louisiana – were built and designed to process Venezuela crude,” Hiatt told Al Jazeera.

While heavy Canadian crude has displaced imports from Venezuela over the years due to sanctions, that could change if Trump has his way, Hiatt said.

“If the Venezuelan heavy crude exports increase, it will displace the Canadian heavy crude as Venezuelan crude typically is sold at a lower price to these refineries,” he added.

Al Jazeera full report