Venezuela’s government and opposition forces have agreed, at the end of their first round of talks, to work on recovering frozen assets at the Bank of England, while also launching a judicial reform process and expanding humanitarian relief for victims of recent earthquakes.
According to a final statement published by government delegation chief and National Assembly head Jorge Rodriguez, the two sides committed to putting in place clear mechanisms for transparency, tracking and auditing to ensure the resources are used effectively.
Focus on recovering frozen money
The agreement says both sides will work together to facilitate the return of Venezuela’s international reserve assets held abroad, as part of a broader political effort to support internal stability and ease the effects of the economic and humanitarian crisis.
The statement linked the move to the need to continue humanitarian aid for people affected by the earthquakes that hit the country on June 24, with commitments to expand support in housing, electricity, health care and debris removal.
Transparency and auditing mechanisms
The two sides agreed to create mechanisms for transparency, tracking and auditing so that any recovered resources would be used properly for the benefit of those affected by the disaster.
The wording appears intended to reassure domestic and external actors about how the funds would be managed if released.
Broad judicial reform plan
The agreement also includes the start of a sweeping transformation of the judicial system, including reforms to the basic law of the Supreme Court and related legislation.
It further calls for the renewal and expansion of the powers of the judicial nominations committee, as well as new procedures for selecting and appointing all Supreme Court judges.
Implementation to begin in August
The statement said implementation of the provisions will begin in August under a permanent working mechanism designed to ensure the commitments are carried out.
Many Venezuelans hope the transition talks will help create conditions for democratic elections, paving the way for a new political stage and stronger national reconciliation.
Conclusion:
The agreement between Venezuela’s government and opposition over frozen assets at the Bank of England marks a notable step in the country’s political talks, especially as it links asset recovery with judicial reform and humanitarian relief. It may also be an early move toward broader compromises on transition and stability.
