On 4 May, Venezuela’s rubber-stamp parliament, the National Assembly, swore in a new electoral authority, two of whose five principal members are from the opposition. It was perhaps the most significant of a series of gestures by President Nicolás Maduro’s government over the past two weeks. While nothing suggests that Maduro is ready to make concessions that might threaten his grip on power, his recent moves do signal a willingness to negotiate and might provide a rare opportunity to temper a crisis that has brought the Venezuelan economy to its knees and caused Latin America’s worst humanitarian emergency. Reciprocal moves from foreign powers opposed to Maduro are necessary to ensure that this chance, however slim, is not missed. Washington is best placed to make comparably conciliatory moves by offering modest relief from the sanctions it has imposed and initiating low-profile diplomatic contacts to assess the odds of further progress.