Machado returns to Venezuela after 100-year US oil deal

Maria Corina Machado drove from the western state of Lara to the capital, Caracas, on Sunday, completing a journey she had attempted eight times in the past 10 months. She arrived to a crowd of jubilant supporters, a scene that contrasted sharply with her covert departure in December 2025. At that time, she slipped out of the country in the dead of night to collect the Nobel Peace Prize in Oslo.

Her return follows a 100-year concession agreement signed between the US and the Venezuelan government. The deal grants the US rights to 65 billion barrels of Venezuelan crude oil. It was reached in conjunction with North American Blue Energy Partners, a private company run by Alejandro Betancourt. Machado has criticized the agreement, directing her comments at the interim government and Betancourt rather than President Trump, to whom she donated her prize medal.

The political context in Caracas has shifted since Machado left. President Nicolas Maduro was removed from power by US troops on January 3, 2026, and now faces drugs, weapons, and torture charges in New York. His former vice-president, Delcy Rodriguez, assumed leadership. Rodriguez has described Machado's return as a show and her government has largely ignored the event on state television. However, Rodriguez indicated she is prepared to hold talks with Machado to maintain a stable relationship with Washington.

Young supporters in the streets of the capital view the return as a marker of political change. Gregory Noriega, 20, wearing a Vente Venezuela sweatshirt, called Machado the indisputable leader of the country. Hilary, 18, described the return as a step forward in the electoral process they have awaited since last year. Their friend Manuel noted that the country is united behind Machado to show that Venezuela is no longer afraid.

Political analyst Benigno Alarcon stated that Machado's return is the most important political event since January 3. He noted that her presence on the ground solidifies the opposition's leadership beyond exile. A joint study by the think tanks Polis and Nexo found that Venezuela saw three times as many street protests in the first nine months of 2026 as in all of 2025. The study also recorded a reduction in the repression of those protests by more than half.

US Secretary of State Marco Rubio attributed Machado's safe return to US-supported reconciliation talks. Despite her return, Machado still faces charges in Venezuela ranging from treason to conspiracy of insurrection, accusations her supporters have long dismissed as politically motivated. The Trump administration has repeatedly praised Rodriguez as a terrific person, while also expecting full submission on energy issues, with reports suggesting Rubio directs major decisions via regular WhatsApp calls.

Machado's arrival marks a shift from her years in exile to a period of active political presence. The opposition movement she leads has maintained support despite the change in government. Her return occurred after the double earthquakes that struck the region, a timing supporters cited as necessary for national unity. The event was livestreamed by her backers, while state media focused on other domestic news.