Raphael Machado
It is reckless to believe that a change in the White House would represent a turn of fortune for Venezuela.
The year 2026 is passing quickly. In fact, it won't be long before it ends. Still, we remember very well how this year opened: on January 3, the U.S. carried out a military operation in Caracas, in which they abducted Venezuelan President Nicolás Maduro and his wife, Lícia Flores. During this operation, a large part of Maduro's bodyguards lost their lives. Maduro was close to a bunker, but he couldn't reach it and seal the door in time before being captured.
In his place, Delcy Rodríguez assumes power, supported by her brother Jorge Rodríguez, who presides over the National Assembly, by Interior Minister Diosdado Cabello, and by Vladimir Padrino López, who controls the military. Far from betting on "free and democratic elections," the U.S. endorsed the continuity of Bolivarian politics, keeping Delcy Rodríguez in power. Maria Corina Machado, Juan Guaidó's successor in the Venezuelan "color revolution" project, has already fallen into oblivion.
What really happened during Maduro's abduction ? The circumstances were never sufficiently well explained, and we continue swimming amid rumors and hearsay. Occasionally, unverifiable information emerges that some elements of Maduro's security team sold him out in exchange for financial compensation, never paid by the U.S. In fact, Venezuela's interim government made several changes to the presidential guard after the abduction, even while denying that there was any betrayal.
But the big question is what happened to all the Russian and Chinese military equipment acquired by Venezuela. Why wasn't it used on January 3 ? We are talking, for example, about Chinese JY-27A, JYL-1, and JY-11 radars, some of which have anti-stealth capability, as well as Russian Sukhoi Su-30 fighters and Russian anti-aircraft systems such as the S300 and Buk-M2. None of this appears to have been used during the U.S. attack. Lack of maintenance ? Lack of readiness among Venezuelan soldiers ? It is not known.
Since then, Delcy Rodríguez has been extremely criticized, by foreign anti-imperialists, for her conciliatory stance toward the U.S. Whenever news appears of a meeting between Venezuela's interim president and some U.S. representative, such as Dan Caine of the U.S. Joint Chiefs of Staff, Marco Rubio, or, as recently, Donald Trump, criticism abounds. The same happens when the Venezuelan government issues its now-typical official notes celebrating "collaboration" with the U.S., the "improvement in relations," "investment opportunities," and so on.
Now, to some extent, it is quite easy to criticize Venezuela's interim government while outside Venezuela and without having to deal with the same kind of pressure. In a practical and material sense, what options does Venezuela have today ? To what extent can it directly and openly defy the U.S.?
The version offered by supporters of the current Venezuelan government is that Delcy Rodríguez's priority is to preserve the Bolivarian political system and secure the return of Nicolás Maduro. Economic sovereignty can, to a certain extent, be sacrificed in the short term; the power structure cannot, since it is harder to rebuild or recover if it ceases to exist. In this sense, Delcy Rodríguez would be offering concessions to the U.S. in order to buy time, waiting until political changes within the U.S. - such as a Trump defeat in the midterms or, perhaps, in the next presidential elections - bring about a more favorable scenario.
The narrative is plausible and, frankly, in Delcy Rodríguez's place I would do the same thing. There don't seem to be many other options, at this moment, for Venezuela, besides damage control.
But how much is it possible to concede?
In just 1 year we have seen the return of the U.S. Embassy to Caracas, as well as the establishment of a CIA office in the country and the restoration of relations with the State of Israel.
On the economic front, the U.S. has come to approach the revenue from approximately 1 million barrels exported daily, whose value is only partially returned to the Venezuelan government for investments and spending authorized by the U.S. A good part of the value remains with the U.S. government, and Trump referred directly to this value as spoils of war.
Soon after, Venezuela granted the American company Trafigura the right to buy and export Venezuelan gold to be refined abroad, with approximately 400 kg of gold per month being transferred to the U.S.
And more recently, Venezuela ceded to the U.S. majority control over unexplored Venezuelan reserves that would theoretically amount to 65 billion barrels of oil. These are areas in which the U.S. would make investments of 100 billion dollars to extract oil for 25 years, which would yield 200 billion dollars in revenue for Venezuela, but much more for the companies involved and for the U.S. government.
How much further is Delcy Rodríguez willing to go ? That is the question.
Finally, it is reckless to believe that a change in the White House from a Republican government to a Democratic government would represent a turn of fortune for Venezuela. On strategic topics, there is a surprising continuity of foreign policy between different governments, which indicates to us that perhaps it is not the White House that dictates the real guidelines. Moreover, it costs nothing to remember that it was under Barack Obama that the siege against Venezuela really began, intensifying with each subsequent presidency, whether Republican or Democratic.