Delcy Rodríguez assumed Venezuela’s acting presidency in January 2026 after U.S. forces captured Nicolás Maduro, initially under a 90-day constitutional limit set by the Supreme Court. She has remained in the role past the April expiration without new elections, consolidating power through cabinet changes, military appointments, and a purge of Maduro-era officials while securing U.S. sanctions relief and diplomatic engagement. Key factors sustaining trader views include her reported military backing, National Assembly support led by her brother, and economic reforms opening the oil sector to foreign investment. Countervailing pressures involve opposition demands for a prompt transition, constitutional challenges over the extended mandate, and potential snap elections or coalition negotiations that could alter her status before year-end.