Venezuela talks conclude with agreement on judicial reform and frozen funds

Representatives of Venezuela's interim government and opposition concluded a first round of negotiations on Wednesday, aiming to reconcile the country following the US-backed removal of longtime leader Nicolas Maduro. A joint statement pointed to agreement on two key issues after several days of talks.

First, the sides pledged to begin transforming the justice system, including reforming the law governing the Supreme Tribunal of Justice (TSJ), the court that validated Maduro's contested 2024 re-election despite fraud allegations and the absence of official published results. The statement made no mention of the National Electoral Council, a separate body the opposition also wants overhauled.

Second, given the devastating earthquakes of June 24 that killed more than 6,300 people, both sides agreed to pursue the release of Venezuela's international reserve assets held at the Bank of England, funds Maduro's government had repeatedly and unsuccessfully tried to access. The statement called for transparency, traceability and auditing mechanisms to ensure proper use of the money.

Delegations and caution

Interim president Delcy Rodriguez's administration was represented by her brother Jorge Rodriguez, head of the National Assembly, while the opposition delegation was led by Dinorah Figuera, who leads the bloc that won the 2015 legislative elections. Exiled opposition leader and Nobel Peace Prize laureate Maria Corina Machado did not take part, though she has said she will not obstruct the process.

An anonymous source from the opposition delegation expressed wariness, comparing the interim government to Nicaragua's administration, and said elections would only be announced once reforms produce a new Electoral Council. Dozens of opposition supporters gathered outside the Caracas hotel hosting the talks.