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Is Venezuela entering a real transition or just a more volatile phase of strongman politics?
In GZERO’s 2026 Top Risks livestream, Risa Grais-Targow, Director for Latin America at Eurasia Group, examines Delcy Rodríguez’s role as Venezuela's interim president after Nicolás Maduro. Risa notes that the Trump administration appears to prefer working with Rodríguez over opposition leader María Corina Machado.
Risa describes Trump’s approach as transactional: “This is about coercing Delcy into cooperating with US interests,” including oil access, migration, and counter-narcotics.
Rodríguez must balance regime divisions, Trump’s demands, and pressure for free and fair elections. “This feels like the start of a longer-term change process,” Risa warns, “but it’s certainly going to be volatile.”
To read more on Top Risks for 2026, head to gzeromedia.com/toprisks
Watch the full livestream conversation about Top Risks for 2026 here
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