In the predawn hours of Jan. 3, U.S. Special Forces captured Maduro in Caracas and flew him to the United States. With President Trump’s blessing, Maduro’s vice president and longtime loyalist Delcy Rodríguez took power, and the two governments began negotiations over Venezuela’s future. Would the country finally hold free and fair elections, many wondered?
Then on Aug. 28, the U.S. and Venezuela governments announced an unprecedented agreement to revive Venezuela’s oil industry. The 100-year deal gave the U.S. an ownership stake in 17 oil fields and access to more than 65 billion barrels of proven oil reserves. Under the terms of the agreement, the U.S. Departments of State and War will develop the oil fields with North American Blue Energy Partners, a private company owned by Venezuelan businessman Alejandro Betancourt. The U.S. will have a 35% stake in the venture, with guaranteed access to 20% of the output at cost, giving it an effective share of 55%.
But there was little talk about elections and democracy. Two weeks before her return, Machado offered the strongest signal that she was running out of patience. The Rodriguez government is negotiating with representatives of the 2015 National Assembly, Venezuela’s last internationally recognized, democratically elected body, but Machado has said she has been marginalized in those talks. On Oct. 15, The New York Times published an interview with Machado in which she accused Betancourt, the oil deal’s Venezuelan investment partner, of “obscene corruption” and blamed him for the country’s persistent electricity shortages. She did not criticize Trump or suggest that, if elected president, she would repudiate the oil deal. She made clear, however, that Betancourt would have no part in it.
Back in Venezuela, Machado seems to believe that Washington will push Rodriguez to hold elections next year. She’ll have to tread lightly. After praising her return, Secretary of State Marco Rubio warned, without naming Machado, that “you’re not going to street-protest your way into a democracy.” Translation: Glad you’re back, but Washington will control the process ahead. Whatever that process turns out to be.
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