“Machado is right to distance herself from this process," said a person with knowledge of the negotiations. "If the negotiations go well and lead to free elections, she will become Venezuela’s first female president. If the negotiations go badly, she will have proven her point: that negotiations need representatives who have legitimacy and who are accepted and viewed positively by the public."
The negotiators face the task of producing results quickly enough to build confidence among Venezuelans and to make up for Machado’s absence from the talks, the source said.
Machado said last week that while she would not participate, she would not stand in the way of "real progress” at the talks and would evaluate their success based on whether democratic institutions are restored, political prisoners freed and elections scheduled, among other issues.
Machado and Figuera did not respond to requests for comment. At the talks, the interim government has said it will push for remaining U.S. sanctions to be lifted. The U.S. has temporarily eased sanctions on Venezuela's oil, gas and gold sectors in the past on the back of agreements between the government and the opposition for fair elections.
US OFFERS SECURITY
Venezuela's opposition has repeatedly held talks over the years with the erstwhile Maduro government, which has stuffed top courts and the electoral authority with its own allies.
A negotiated deal for 2024 elections promised a fair contest and full opposition participation, but Machado was barred from participating. The U.S. and international electoral observers said her movement won some two-thirds of votes cast, but electoral and judicial authorities backed Maduro as the winner, keeping him in power.
The absence of Machado's faction from the upcoming talks effectively excludes an important segment of the country, said Ricardo Rios, head of the Poder y Estrategia political risk consultancy. But Venezuela's opposition has long been deeply divided, so it is unlikely to lead to new fractures, he said.
The United States has said Venezuela must first stabilize and economically recover before elections can take place. Trump has eased some sanctions and repeatedly praised Rodriguez's leadership.
Machado is welcome to play a role at the talks if Venezuelans support her presence there, U.S. Secretary of State Marco Rubio, a longtime supporter of Machado, told journalists this month, adding the U.S. is there to facilitate, but not dictate, the talks.
"In order for Venezuela to have the reconciliation that that country requires to move forward on all these other projects, every element of Venezuelan society needs to be represented. And obviously, Maria Corina represents an important element of that," Rubio said.
U.S. involvement offers security for the opposition, whose members and leaders have regularly faced detention and prosecution on charges they say are politically motivated, one opposition source said.
One opposition source close to Figuera's group called the U.S. a "central player" in the talks, saying it would not sit by the sidelines.