On 24 July 2026, US President Donald Trump stated that Venezuela “is not really ready” for national elections, more than seven months after American forces removed former president Nicolás Maduro. Speaking in the Oval Office, Trump acknowledged “a lot of progress” under acting President Delcy Rodríguez, Maduro’s former vice president, and stressed that when the country is prepared, “we’re going to be standing right on top of it.” The remarks prolong the political uncertainty in Caracas, where no electoral calendar exists despite renewed dialogue between the ruling party and a segment of the opposition.

From Washington, the Trump administration measures progress largely through the oil sector. Trump highlighted rising Venezuelan crude output, noting that “the amount of oil coming out” is climbing even before all major companies return, and that the US is “taking a lot” of it. Secretary of State Marco Rubio has previously conditioned elections on a free press and a new electoral commission. The US swiftly lifted sanctions after the post-Maduro government accepted American terms, linking energy cooperation to wider strategic interests: the war with Iran and Gulf tensions have driven prices up, making Venezuelan oil particularly valuable to Washington’s energy-security calculus.

Inside Venezuela, the political landscape remains fragmented. The chavista-controlled parliament and a group of opposition parties have scheduled talks for 1 August, a process Washington supports, but leading opposition figure María Corina Machado is not participating. Her allies accuse the interim administration of foot-dragging and point to the continued detention of hundreds of political prisoners. Trump, meanwhile, presented Venezuela as an “example” of what could be achieved in Cuba, while occasionally resurrecting the notion—via his Truth Social platform—that the country could become the 51st US state.

Beyond the electoral question, the aftermath of the 24 June double earthquakes—which killed nearly 5,400 and caused an estimated $19.6 billion in damage—has intensified US involvement. According to individuals familiar with the discussions, the Trump administration and Rodríguez’s government are exploring ways to release billions of dollars in frozen Venezuelan assets held abroad, aiming to fund reconstruction while limiting costs to American taxpayers. This asset-unlock initiative underscores Washington’s transactional approach: secure economic recovery and institutional stability under close supervision before any democratic transition. The 1 August talks remain the next visible step, but with US officials insisting on “doing it right,” the path to elections stays undefined.