Delcy Rodríguez assumed Venezuela’s acting presidency in January 2026 after Nicolás Maduro’s U.S. capture, operating under a constitutional succession mechanism that initially limited her mandate to 180 days. Major June earthquakes, which killed over 6,000 and drew criticism of her government’s response, coincided with the mandate’s expiration around early July without a formal extension or snap election. Ongoing U.S.-backed talks with opposition figures have produced agreements on Supreme Court renewal and foreign asset recovery but exclude key opposition leaders and have not yet set an election timeline. Oil output has risen under international engagement, yet public disapproval remains elevated and internal PSUV tensions persist alongside U.S. leverage over finances and policy. These factors shape trader assessments of when or whether her interim role will conclude.