Venezuela’s rivals take first step toward post-Maduro settlement

Venezuela’s interim government and opposition representatives on Wednesday, August 12, concluded a first round of talks aimed at reconciling the country following the U.S. ouster of longtime leader Nicolas Maduro.

After several days of negotiations, the two sides issued a joint statement outlining agreements on two issues — reform of the judiciary and efforts to gain access to frozen Venezuelan funds to help finance recovery from the country’s devastating earthquakes.

The sides agreed to “initiate a process that contributes to the transformation of the justice system”, including “Reforms to the Organic Law” governing Venezuela’s Supreme Tribunal of Justice (TSJ), foreign media reports.

The TSJ played a prominent role in validating Maduro’s disputed 2024 re-election despite serious allegations of electoral fraud and the failure to publicly release the official results.

The joint statement did not address the National Electoral Council, another institution the opposition wants to overhaul after it also endorsed Maduro’s contested victory.

The talks also addressed Venezuela’s international reserves held at the Bank of England. Following twin earthquakes on June 24 that have killed more than 6,300 people, both sides agreed to work toward the release of “Venezuela’s international reserve assets held at the Bank of England”.

Venezuela repeatedly sought access to those funds under Maduro but was unsuccessful.

The joint statement called for the creation of “mechanisms for transparency, traceability, and auditing” to ensure that any released funds are properly managed and used.

The interim government of President Delcy Rodriguez was represented at the negotiations by her brother, Jorge Rodriguez, who also heads Venezuela’s National Assembly.

Delcy Rodriguez served as Maduro’s vice president but has since taken charge of the country with Washington’s backing. She has also received praise from U.S. President Donald Trump for accommodating the priorities of his administration.

The opposition delegation was led by Dinorah Figuera, head of the political bloc that won a majority in the 2015 National Assembly elections, the last legislative vote in Venezuela to receive broad recognition from the international community.

Notably absent from the negotiations was exiled opposition leader and Nobel Peace Prize laureate Maria Corina Machado, who has said she will not obstruct the dialogue process.

The first round of talks represents an initial attempt by Venezuela’s rival political camps to establish areas of agreement following Maduro’s removal, although major political and institutional disputes remain unresolved.

By Tamilla Hasanova