After three days of intense talks, the Venezuelan government and the opposition on Thursday agreed to engage in a "permanent peace dialogue".
"We have agreed to establish a permanent peace dialogue and reached an accord on our readiness to work together for ensuring peace in the country," Sputnik quoted Governor of Venezuela's Miranda state Hector Rodriguez as saying.
The South American country has been facing by an economic and political crisis. While the political turmoil began early this year, the economic crisis is a decade old.
Meanwhile, Venezuelan President Nicolas Maduro said that there are a total of six topics that are being discussed with the opposition. However, he fell short of revealing the issues.
"We have reached an agreement with the opposition and the government of Norway [mediating the negotiations] not to detail specific topics we are discussing. There are a total of six such topics," Maduro said.
Worsening the situation, the US had imposed multiple sanctions against Venezuela in a bid to force Maduro to step down. National Assembly leader Juan Guaido had proclaimed himself as the interim President of the nation amid protests against Maduro.
The US extended support to Guaido, calling for Maduro to either step down or hold fresh elections. Maduro has, however, stuck to his post while claiming to have the military's support.
Countries such as Russia, Turkey and China have backed Maduro while slamming external interference in the country.
( With inputs from ANI )