Maria Corina Machado returns to Caracas following 100-year US oil deal

Maria Corina Machado returned to Caracas on Monday after ten months in exile, a move cleared by the Trump administration following the signing of a major energy agreement with the Venezuelan government. The 100-year concession grants the United States access to 65 billion barrels of Venezuelan crude oil, a deal that has fundamentally altered the diplomatic relationship between the two nations.

Machado arrived by car from the western state of Lara, traveling down roads filled with supporters. This public procession stood in sharp contrast to her departure in December 2025, when she left the country in the early morning hours to receive the Nobel Peace Prize in Oslo. The Venezuelan government had previously blocked her return on multiple occasions, and the US administration had recently insisted the timing was not suitable for her comeback.

The political landscape has shifted dramatically since Machado last left Venezuelan soil. Nicolas Maduro, who served as president at the time of her exit, was removed from power by US troops on January 3, 2026. He was transported to New York, where he faces charges related to drugs, weapons, and torture, and has pleaded not guilty. His former vice-president, Delcy Rodriguez, assumed power and has since established a cooperative stance with Washington.

The new US-Venezuela relationship centers on a bilateral oil deal negotiated with North American Blue Energy Partners, a private company led by Alejandro Betancourt. Machado has publicly criticized this agreement, directing her remarks primarily at the Rodriguez government and Betancourt rather than President Trump. Trump has expressed satisfaction with Rodriguez, describing her as wonderful and a terrific person, despite previously labeling her administration narco-communists.

Political analyst Benigno Alarcon described Machado's return as the most important political event since January 3. He noted that her presence on the ground strengthens the opposition by providing a leader who is physically in the country rather than in exile. A joint study by the think tanks Polis and Nexo found that Venezuela experienced three times as many street protests in the first nine months of 2026 as in all of 2025. Repression of these demonstrations has decreased by more than half during the same period.

US Secretary of State Marco Rubio attributed Machado's safe return to US-supported reconciliation talks between the government and the opposition. Although Machado still faces charges in Venezuela for treason and conspiracy of insurrection, Rodriguez has indicated willingness to hold talks with her. The interim president appeared reluctant to challenge Machado's presence, as a harmonious relationship with Washington remains essential for her to avoid the fate of her predecessor.