In October 2025, María Corina Machado was awarded the Nobel Peace Prize for her commitment to the democratic rights of Venezuelans and her struggle for a just and peaceful transition from dictatorship to democracy. The award, however, sparked controversy when Machado also dedicated it to Donald Trump, thanking him for supporting the Venezuelan cause. Following the US capture of Nicolás Maduro, she later presented Trump with her Nobel medal as a personal gesture of gratitude.
It is a struggle that has cost her more than a year in hiding and around eighteen months apart from her family. Without a valid passport, which the Venezuelan authorities refuse to renew, Machado is now based primarily in Panama, while returning to Venezuela would expose her to serious risks to her life.
After Maduro’s fall, many expected her to return to Caracas and lead the transition. Power instead remained in the hands of Delcy Rodríguez, a central figure in the former regime, whose collaboration with Trump has left the country suspended in a political limbo that is difficult to decipher.
From abroad, Machado continues her campaign. A recent Meganálisis poll gave her more than 80 per cent in a hypothetical electoral contest against Rodríguez. In this exclusive interview with Democrats Review, she explains where her political project now stands.
— The earthquake has imposed a devastating humanitarian emergency on a country already facing profound institutional and economic fragility. How has it changed the timetable—or even the priorities—of Venezuela’s democratic transition? Do you fear that reconstruction could become a justification for postponing political reform and free elections?
The earthquake of June 24 dealt the final blow to Venezuelan society, not only because of the devastation and loss of life it caused, but also because it exposed the incompetence, corruption and lack of humanity displayed by the regime. Seventy-two hours after the earthquake, not a single action had been taken by the regime to support or assist the population.
It was the people who took matters into their own hands. They began organizing themselves to try to help their relatives and neighbours, but also complete strangers. Not only did the regime fail to respond; it even placed obstacles in the way of international humanitarian organizations seeking to intervene, not to mention the numerous difficulties it created for Venezuelans attempting to mobilize and take part in rescue operations.
The images of members of the Armed Forces moving through the rubble and stealing personal belongings while many people were still trapped beneath the ruins will remain forever etched in the memory of Venezuelan society.
The situation represents an unprecedented collapse that demands change—a change that has therefore become even more urgent and can no longer be postponed. A change that will not only bring the relief people are calling for and desperately need, but also lead to the rebirth of institutions capable of ensuring decisive progress towards the rule of law, economic improvement and genuine opportunities for all.
Therefore, tragic as it has been, the aftermath of the earthquake has helped unite civil society, which is now demanding, with unprecedented strength, the physical, institutional, social and economic reconstruction of the entire country.
— Secretary of State Marco Rubio described a three-stage process for Venezuela: stabilization, recovery and, finally, democratic transition. Progress toward that final stage appears slow, yet you have continued to express confidence. What concrete indicators—and what information not yet visible to the public—lead you to believe that the transition remains on course?
At the beginning of this year (following Maduro’s capture), US Secretary of State Marco Rubio implemented three stages of a process comprising stabilization, recovery and, finally, democratic transition. He also made clear that these stages do not necessarily have to take place consecutively.
According to the US administration, the stabilization phase has already been completed. By contrast, the much-anticipated investments—particularly in the energy sector—envisaged as part of the recovery and reconstruction phase have not yet materialized. But we need to clarify the context.
Venezuela ranks last in the world for respect for the rule of law. Given that representatives of the regime have previously carried out indiscriminate expropriations against both domestic and international actors, the risks remain extremely high for anyone seeking to invest in Venezuela.
All things considered, however, it must be acknowledged that 700 of the country’s 1,200 political prisoners have now been released. We are beginning to see civil society organizations finding space for their protests, and voices of dissent against the regime are being heard. These are developments that were unimaginable until now and had been absolutely prohibited by the regime.
For us Venezuelans, the agenda is clear. We know precisely what we want, beginning with an electoral timetable that includes a specific date on which free and transparent elections must be held.
There are ongoing discussions with the State Department that give us reason to believe that, before the end of the year, a new National Electoral Council will be appointed, along with a new Supreme Court of Justice.
We know without any doubt that Venezuelan society is ready and eager to undertake this transformation, because we are convinced that it will also represent the first step towards stabilizing the entire Venezuelan people, both inside and outside the country’s borders.
— Your recent international meetings have been aimed at consolidating support for Venezuela’s democratic future. What has Europe done that has genuinely helped—and where has it fallen short? At this critical stage, what specific political, diplomatic or economic commitments would you like European governments and institutions to make?
In recent months, I have intensified my engagement with many European leaders. I have been welcomed by parliaments, met with civil society leaders and spoken with a wide range of media representatives.
My work has been to share carefully the details of the situation in our country, but, above all, I have consistently emphasized just how vital and crucial a democratic transition is for Venezuela right now.
I have encountered supportive voices among those who have helped dismantle a criminal system whose tentacles are clearly visible in Europe as well, where money laundering used to finance criminal activities is a matter of serious concern.
We have always received strong support from the European Parliament, accompanied by precise condemnations of the situation in Venezuela. That said, much more can be done. I am referring to certain European circles where corruption cases directly connected to the activities of Maduro, as well as those of the current leader, Delcy Rodríguez, deserve to be exposed far more forcefully.
This is a decisive moment. We would be making a mistake if we thought we could ease the pressure on the regime in Caracas in any way. On the contrary, this is precisely the moment when pressure must be maintained at its highest possible level.
— Venezuela’s transition currently depends heavily on Washington, while disagreements between the United States and Europe are becoming increasingly visible. After visiting Cuba, I was struck by how strongly the future of the region remains tied to the priorities—and sometimes the changing mood—of the US administration. Is it dangerous for Venezuela’s democratic movement to rely so heavily on President Trump, particularly when American electoral politics could alter Washington’s priorities? What safeguards exist if US support weakens or changes direction?
For many years, we have sought and called for international assistance in order to dismantle what is, in effect, a criminal structure in Venezuela: a regime allied with the worst totalitarian regimes in the world.
The presence of the Russian and Iranian regimes in Venezuela is clear, not to mention the support given to terrorist groups such as Hamas and Hezbollah, the Colombian guerrillas and Mexican drug cartels.
All these actors have merged with the Venezuelan regime, making it extremely difficult to dismantle a structure equipped with power, money, weapons, an intelligence apparatus and the capacity to instil terror among the population.
The decisive action undertaken by the United States against Maduro therefore proved crucial in opening a genuine path towards a credible democratic transition. It is undeniable today that the real threat posed by the United States—hanging over Delcy Rodríguez and her entire entourage—is finally allowing some spaces for civil liberties to emerge.
It is therefore evident that President Trump’s position is decisive to the progress of this transition. Personally, I am confident that the process will move forward step by step, also because democratic transition represents a situation in which everyone wins.
It would benefit not only all stakeholders in Venezuela, but also every democratic country in our region. There are two main reasons for this.
First, keeping alive a regime that provides a safe haven for criminal and terrorist groups represents a threat to all its neighbours. The second issue concerns migration and the way in which the continuation of the present situation could trigger yet another exodus of Venezuelans who can no longer endure these desperate social and economic conditions.
It is worth remembering that a teacher in our country earns one dollar a day. And yet 65 per cent of Venezuelans living in exile in the United States have said they would be prepared to return if we succeeded in bringing about a genuine democratic transition. And that does not include the Venezuelan diaspora across the rest of the world.
From an economic perspective, only in a Venezuela where there is a demonstrable rule of law, where contracts are protected, international arbitration mechanisms are accepted, and the management of public finances and reconstruction is transparent, will it be possible to unlock the country’s immense energy wealth.
It is conceivable that production could rise from one million to five million barrels a day within a decade.
Finally, from a security perspective, dismantling a mafia-style criminal organization such as the Venezuelan one requires comprehensive control of the territory, the creation of a professional military force, and officers trained in cooperation with the leading international anti-mafia and counterterrorism agencies operating in democratic countries.
To put it simply, to the President of the United States, to the American people, but also to all Western democratic forces, beginning with Europe, I can only say that a democratic transition in Venezuela is the best possible deal for everyone.
— You have said that you intend to return to Venezuela, despite warnings and threats from those still controlling parts of the state. What level of personal danger do you face today, and what has this struggle continued to cost you and your family? More politically, how much coercive capacity does the former Maduro apparatus still retain within the security services, armed forces, judiciary and intelligence system?
One point must be made very clear: Maduro has not been in power since January 3, 2026, and he must answer before justice for his actions, but the repressive and criminal organization he headed continues to operate in Venezuela.
The action and pressure exerted by the United States have prevented the brutal violations that were considered routine before January 3 from continuing. Despite this, torture centres still exist, and the number of political prisoners remains very high.
Nor have the threats against the opposition’s political leaders diminished. I receive daily threats from members of Delcy Rodríguez’s executive, and this climate of terror obviously affects all our relatives and friends.
Everyone in Venezuela is fully aware of the tremendous risks involved. All the indicators demonstrate the level of danger connected with the current situation—circumstances that become even more threatening for those who publicly tell the truth about this criminal regime.
But there is no doubt that today we are facing a society that is stronger and more united than ever, one that is asking me—and, in some cases, demanding—that I return to Venezuela.
And that is the decision I have made: to return to Venezuela so that I can stand alongside my people, ensuring that this popular democratic energy is channelled through peaceful and civic means, that it grows, and that it ultimately secures the right to a genuine democratic electoral process.
