Bilateral relations have been largely frozen since 2019, when Jamaica closed its embassy in Caracas due to the Venezuelan presidential crisis.

[2] Jamaica established an arrangement with Venezuela called the PetroCaribe Development Fund.

Under the arrangement, Jamaica received some 23,000 barrels of oil per day from Venezuela, covering almost 50 per cent of the country's needs in that regard.

[3] The PetroCaribe arrangement was also able to provide grants for housing, school sanitation, assistance to children in the inner-city communities and investment in infrastructures, such as the port in Falmouth, renovation of Norman Manley International Airport.

[3] In May 2022, it was reported that the Jamaican government was "willing to explore the possibility of a new oil deal with Venezuela, it is highly unlikely that anything will happen unless there is a green light from Washington signalling that it is safe to proceed.