Venezuela's government and opposition agree to renew the Supreme Court and claim the London gold

Venezuela's acting President Delcy Rodríguez and a faction of the opposition agreed on Tuesday to renew the Supreme Court of Justice and jointly recover gold reserves held in the Bank of England. The negotiations, which lasted over six hours, took place in Caracas and resulted in two main agreements. The first is to restart the process of renewing the Supreme Court, replacing the previous attempt to increase its size from 20 to 32 members.

Instead, the parties agreed to amend the Supreme Court's organic law, expand the judicial nominations committee, and establish a council to review candidates' credentials. The second agreement is to promote the recovery of international reserve assets, including 31 tonnes of gold, which has been withheld since the UK stopped recognizing the Maduro government.

The gold is part of a lawsuit in London courts. Both delegations committed to transparency, traceability, and audit mechanisms for the gold's use. The document also does not mention the National Electoral Council, which the opposition considers crucial for any election timetable, nor does it address the release of political prisoners.

Eighty-four former political prisoners expressed support for the negotiations, calling for a new court and an independent electoral authority. Technical working groups were set up to address the earthquake emergency and strengthen democracy. The negotiations, the eighteenth attempt in two decades, began in Caracas and are backed by the United States.