Venezuela Government, Opposition May Cooperate to Protect US Assets

Venezuela’s political factions consider joint legal defense of US-based assets amid disputed representation. Coordination follows US recognition of interim president, raising court representation issues.

Venezuela’s government and opposition are exploring cooperation to defend control over the country’s assets held in the United States. This development comes after the US officially recognized Delcy Rodriguez as Venezuela's interim president, which complicated the question of who can legally represent Venezuela in US courts.

The legal teams for both political sides jointly requested Manhattan’s Magistrate Judge Sarah Netburn to pause creditor lawsuits that aim to seize Venezuelan funds associated with US assets. The 45-day stay is intended to allow time for the factions to coordinate their defense strategy.

This cooperation marks a rare instance of political rivals prioritizing asset protection amid Venezuela’s ongoing political and economic crises. Control over these assets, particularly in the oil sector, carries significant financial and geopolitical weight.

The contested assets include billions of dollars tied to Venezuela’s oil revenues, which creditors seek due to the country’s economic distress and debt defaults. The interim government’s recognition by Washington further complicates ownership claims and raises the stakes for international creditors and policy actors.

Experts warn that unresolved legal disputes over Venezuela’s US assets could trigger wider financial instability and impact global oil markets. The outcome of this cooperation phase will influence future political dynamics and external support for Venezuela’s factions.