Delcy Rodríguez holds a commanding position as Venezuela’s acting president following the January 2026 U.S. capture of Nicolás Maduro, with the Supreme Court directing her to assume executive powers. She has consolidated authority through cabinet restructuring, military command changes, and direct engagement with the Trump administration on energy, mining, and security cooperation, while pledging elections without setting a timeline. Ongoing talks between her government and opposition factions focus on electoral council reforms and Supreme Court reconstitution, but no vote date has been fixed and U.S. licensing of oil trade continues to support the interim framework. This institutional continuity and external backing underpin trader consensus on her likely status through year-end, though accelerated negotiations or shifts in U.S. policy could still alter the trajectory before December 2026.