Venezuela Transition Talks Reach Agreement on Judiciary and Assets

The Government of Venezuela and opposition representatives concluded a first round of transition talks in Caracas on August 12. The negotiations, aimed at national reconciliation following the U.S.-led removal of Nicolas Maduro, resulted in agreements to reform the Organic Law governing the Supreme Tribunal of Justice.

Participants also agreed to seek the release of international reserve assets held at the Bank of England. These funds are designated to finance recovery efforts after twin earthquakes on June 24 killed more than 6,300 people. To ensure accountability, the agreement establishes specific transparency and auditing mechanisms for the disbursement of these assets.

While National Assembly Speaker Jorge Rodriguez and opposition representative Dinorah Figuera led the successful negotiations, the process faced internal opposition. Opposition leader Maria Corina Machado rejected the talks, stating the process does not reflect the democratic mandate from the disputed 2024 presidential election.