Key facts
- Maria Corina Machado called for Venezuelan elections to be held by July.
- Machado seeks transparency in the management of Venezuela's oil sales proceeds.
- Machado believes a stable democracy is the only way to achieve a sustainable victory for Venezuela.
- U.S.-backed negotiations between Venezuela's interim government and an opposition faction were scheduled to begin.
- Maria Corina Machado is not participating in the U.S.-backed negotiations.
Venezuelan opposition leader Maria Corina Machado has called for elections to be held by July, stating there is "more than enough time" to prepare for a vote, according to a report by the Financial Times. Machado, who won last year's Nobel Peace Prize, also emphasized the need for transparency in the management of proceeds from Venezuela's oil sales, which are currently overseen by Washington.
Machado expressed that both the U.S. government and the Venezuelan people agree that establishing a stable democracy is the only sustainable path to victory for Venezuela. Her remarks come as U.S.-backed negotiations between Venezuela's interim government and a faction of the opposition are set to begin. However, Machado, the country's most prominent opposition figure, is not participating in these talks. She has been publicly sidelined by Washington since the removal of Nicolas Maduro, with U.S. officials suggesting she lacks sufficient support to lead the country.
Previously, President Donald Trump announced a significant oil agreement with Venezuela, giving U.S. interests majority control over more than 65 billion barrels of Venezuelan oil reserves. This deal envisions over $100 billion in investment and potentially more than $200 billion in tax revenue for Venezuela, aiming to revive the nation's oil industry and provide the U.S. with greater access to crude. However, the agreement has faced criticism regarding its legal basis, lack of competitive bidding, and the feasibility of the required investments, with some questioning whether economic interests have superseded the promised political transition to democracy.