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Since the advent of the Bolivarian Revolution relations between Venezuela and the United States have been characterized by tensions and animosity. The Hugo Chávez administration identified Washington as its main adversary and adopted a “soft-balancing strategy”, as opposed to the “autonomous alignment” that existed during the “Punto Fijo Pact” democratic regime (1958 – 1999). This paper will argue that the shift to “soft-balancing” was an ideological choice that amounted to an “international orientation change” in foreign policy. In this wider shift, the energy trade with the US is a structural determinant that restricted soft-balancing. However, bilateral security-military cooperation deteriorated, constituting a major concern for Washington and leading Venezuela to look for alternative suppliers. Venezuela adopted a strident rhetoric of leftism “anti-imperialism” that transcended the “Third-Worldism” of its traditional foreign policy. The role of the Presidency in foreign policy was strengthened, but the Energy Ministry - PDVSA continued playing an important role in relations with the US and American oil companies. The Venezuelan parliament reduced its autonomous input in foreign policy, but the US Congress as a whole became an irritant in relations with Caracas. Among non-state actors, Venezuela developed a strategy of soft power focused on specific US communities, organizations and personalities. US support to Venezuelan opposition NGOs became a major source of tensions. Overall, there was a major ideologically-driven shift in relations with the US that impacted other areas of foreign policy, but a total breakdown in relations was avoided because of the importance of historical links and economic relations.