Delcy Rodríguez holds a commanding position as Venezuela’s acting president following the January 2026 U.S. operation that removed Nicolás Maduro, with the Supreme Court directing her to assume executive powers to maintain institutional continuity. Recent developments, including U.S.-backed negotiations to reform the Supreme Court by mid-December and the National Electoral Council shortly thereafter, position her to oversee the process before any vacancy declaration triggers a 2027 election. Her public commitments to a renewed electoral authority, combined with U.S. diplomatic support and ongoing dialogue involving figures such as Jorge Rodríguez, reinforce trader consensus around her continued de facto leadership through year-end. Potential shifts could arise from accelerated institutional changes or unforeseen disruptions in the negotiation timeline, though current sequencing points to her retaining authority at the end of 2026.