Delcy Rodríguez assumed Venezuela’s acting presidency in January 2026 following the U.S. capture of Nicolás Maduro, with her position initially backed by the Supreme Court, military, and subsequent U.S. recognition and sanctions relief. She has consolidated influence through cabinet changes, economic opening to foreign oil investment, and cooperation with Washington while managing Chavista internal frictions and opposition pressure. June 2026 earthquakes killing over 5,000 people exposed governance strains and prompted renewed U.S.-backed transition talks with opposition factions scheduled to resume in early August. These diplomatic efforts, combined with calls for elections from U.S. lawmakers and lingering questions about extending her mandate beyond the original 90-day limit, remain the main variables traders weigh when assessing the likelihood and timing of her departure from leadership.