US-backed Juan Guaidó's interim presidency has come to an end today after Venezuelan lawmakers voted not to bring about new elections and remove socialist President Nicolás Maduro from power.
The vote, which was 72 votes in favor, 29 against, and eight abstentions, will result in the end of Guaidó's early four-year interim presidency as of January 4th.
Guaidó called the vote "jumping into the abyss", saying it creates a "power vacuum" that could push more foreign nations to recognize the Maduro administration.
The National Assembly, which is led by the opposition, will now assume some of Guaidó's responsibilities starting on January 5th. These responsibilities include protecting Venezuelan assets abroad that were previously under Guaidó's care. It is unclear if the National Assembly will be able to effectively carry out these tasks.
Guaidó's rise to power began in 2019, when he declared himself the interim president of Venezuela following rigged elections. He was supported by the opposition parties and dozens governments, including the United States and the European Union. However, despite his initial efforts to foster regime change, he was unable to remove Maduro from power and his influence has waned in recent years.
The dismantling of Guaidó's interim government marks the end of a fruitless effort to bring about political change in Venezuela.
In the face of growing international support for Maduro, the United States has recently relaxed its sanctions on the Venezuelan oil industry. Additionally, several Latin American countries, including Brazil, Colombia, and Argentina, have elected leftist leaders.
The vote to end Guaidó's interim presidency was met with mixed reactions. Some lawmakers argued that it was necessary to defend the institution of the National Assembly above personal interests and prevent the tool from being destroyed. Others criticized the move, saying that it was temporary but had become perpetual.
The country has been in the midst of an economic, political, and humanitarian crisis since 2014, with the socialist government undermining democratic institutions and leaving much of the population impoverished.
The end of Guaidó's interim rule represents a significant shift in the political landscape of Venezuela. It remains to be seen how the National Assembly will manage the responsibilities that it will temporarily assume and how the country will move forward in the face of ongoing economic and political challenges.
