The U.S. and Venezuela "have agreed to re-establish diplomatic and consular relations," per a State Department statement. Why it matters: The historic deal with a former traditional U.S. foe comes as President Trump pushes to apply his actions in Caracas that led to the capture of former leader Nicolás Maduro to Iran, telling Axios Thursday that he must be involved in picking a successor to assassinated supreme leader Ali Khamenei . Trump administration officials visited Venezuela this week, where Interior Secretary Doug Burgum met with acting Venezuelan president Rodríguez to discuss oil and mineral opportunities, and help shepherd a multimillion-dollar gold deal. What they're saying: "This step will facilitate our joint efforts to promote stability, support economic recovery, and advance political reconciliation in Venezuela," the State Department's statement said . Editor's note: This is a developing story. Please check back for updates.