Venezuela’s acting president Delcy Rodríguez has pledged elections under a renewed National Electoral Council but set no date, while opposition leader María Corina Machado, recently returned from exile, states that the U.S. roadmap points to a 2027 vote. Washington’s sequence requires installing a new Supreme Court by mid-December, followed by CNE reform, then a formal declaration of presidential vacancy that triggers a constitutional six-month window. Negotiations between the interim government and select opposition factions focus on these institutional changes, with applications for new TSJ magistrates closing November 11. Street protests have demanded a firm timetable, yet traders assign low probability to any official election announcement by year-end given the required reforms and absence of a fixed calendar.