Understanding and Anticipating Venezuelan Government Actions

## Executive Summary This report evaluates Acting President Delcy Rodríguez’s likely priorities and the internal and external threats to her hold on power after the January 3, 2026 US operation to capture Nicolás Maduro, concluding she will prioritize near-term governability and economic stabilization, cautiously engage with the United States on energy and sanctions relief, and manage coalition rivals (notably Diosdado Cabello and senior military/intelligence actors) to avoid destabilizing confrontations while resisting genuinely competitive elections unless economic gains improve PSUV’s electoral prospects.