Following Nicolás Maduro’s capture by U.S. forces in January 2026 and the Supreme Tribunal of Justice’s installation of Delcy Rodríguez as interim president, Venezuela faces an undefined timeline for the next presidential election under its six-year constitutional term. The interim government and National Assembly have prioritized stabilization, political dialogue, and institutional reforms—including electoral administration and media freedoms—before setting a date, with officials explicitly ruling out immediate balloting. Opposition calls and international expectations for free and fair conditions remain unaddressed by specific commitments, while analysts highlight the need for negotiated pacts on reforms ahead of any vote. These factors sustain trader uncertainty over near-term scheduling amid the ongoing transition.