(What's transpired?) This was going to a point where the players didn't want to go to. The Presidents of Colombia and Venezuela didn't want this to go any farther so they check-mated each other, essentially. So they reached an agreement and understanding that they would both pull back. the problems haven't disappeared and the tensions could reemerge but for the time being they've pulled back. (So what could reemerge?) What's bubbling under the surface is that the FARC is still a problem for Colombia, operating in Venezuela and Ecuador. Will Venezuela continue to have a relationship with the FARC? (How about in terms of the relationship with the US?) The US is now facing a situation where they have to make a choice about what they're going to do with this info about Venezuela. They're not going to do anything President Uribe doesn't want to do. (We're still getting 14% of oil imports from Venezuela). That's why the US's options are limited. Both countries are closely dependent on each other. It's unclear the economic relationship will be affected long term.