Delcy Rodríguez is the vice-president of Venezuela who became acting president on January 5th 2026, two days after American forces captured Nicolás Maduro. She has the support of Diosdado Cabello, the interior minister, and Vladimir Padrino, the powerful defence minister. Donald Trump described her relationship with Marco Rubio, America's secretary of state, as "very strong" and after a phone call on January 14th called her a "terrific person". A poll for The Economist found only 10% of Venezuelans agreed she should complete Mr Maduro's term (which runs to 2031) and just 13% held a favourable view of her. PDVSA, Venezuela's state-owned oil firm, confirmed it was in talks with America on oil sales during her tenure.
Ms Rodríguez has promised a more pro-market environment. On January 22nd 2026 the National Assembly gave initial approval to changes to the hydrocarbons law, which currently favours PDVSA; the reform would give private companies more control over the production and sale of oil, cut some royalties and allow independent arbitration of disputes. Mining law is to be reworked next. Some $300m has flooded into Venezuela's banking system from Trump's oil deal bringing 30m-50m barrels to market, and the gap between the official and parallel exchange rates has shrunk to about 20%.
The regime freed about 300 political prisoners—more than ever before in such a short period—including Rafael Tudares, the son-in-law of Edmundo González. But some 600 remained behind bars according to Foro Penal, a watchdog. Ms Rodríguez sacked Álex Saab, the minister of industry and Maduro's former "fixer", previously imprisoned in the United States for money-laundering. She overhauled her cabinet and the army leadership, though the most senior figures—including Diosdado Cabello and Vladimir Padrino—remained. She appears to be ignoring the constitution, which requires calling elections quickly if the president is absent.
Honesty pays, but it doesn't seem to pay enough to suit some people.