Venezuela Oilfield Crisis

Opposition leader Maria Corina Machado has endorsed a State Department roadmap under which Venezuela would install a new Supreme Court, create a new electoral council and then have acting President Delcy Rodriguez declare the presidency vacant, triggering elections within six months, and she has proposed carrying out the three steps simultaneously. Washington wants the new Supreme Court in place by mid-December, according to a senior State Department official. Rodriguez has repeatedly promised elections without setting a date, and it remains unclear who will choose members of the new court and electoral council or whether Machado will be allowed to run. Machado's Vente Venezuela is not part of the third round of talks that began Oct. 14, and she is demanding a vote by July 2027.

Background

Venezuela holds the world's largest proven oil reserves but has been isolated by economic collapse and disputed elections under Nicolas Maduro. Washington pressed him over drug-trafficking charges, announced a blockade of oil tankers in late 2025, and in January 2026 US forces raided Caracas and seized Maduro and his wife. Vice President Delcy Rodriguez was sworn in as interim president, and disputes over oil and an election timetable have followed.

Key issues

• Maduro's capture and the transfer of power
• Control of Venezuelan oil
• Opposition demands for an election date
• Sovereignty concerns over the US raid

Key milestones

Parties

Rodríguez interim government and US vs opposition (Machado unable to return)

Countries involved

Other issues in these countries

• Geopolitics & Diplomacy🇻🇪 Venezuela

  Machado endorses US roadmap of new court, electoral council, vacancy and vote within six months; polls show her far ahead