US President Donald Trump has stated that Venezuela is not yet prepared to hold free elections, despite acknowledging some progress in the country's political landscape.

The comments, reported by La República, signal that Washington is maintaining pressure on the Venezuelan government without committing to a specific timeline for a democratic transition.

The lack of a clear electoral roadmap keeps geopolitical risk elevated for investors monitoring Latin American equities and commodities.

Markets have been pricing in the potential for continued instability in Caracas, with uncertainty surrounding the legitimacy of the current administration and the prospects for a peaceful transfer of power.

Trump's remarks come amid broader diplomatic tensions, including ongoing negotiations with Iran and shifting US foreign policy priorities.

The US administration's stance on Venezuela remains a key variable in regional stability, with implications for energy markets and trade flows in the Caribbean basin.