--- title: Venezuela's Opposition Party Wins Majority Of National Assembly | TIME description: Venezuela's opposition party has taken control of the National Assembly from the socialist party, a first since the 1990s. But what's the next move? canonical: https://time.com/video/cTDtJ924/ og:title: Venezuela's Opposition Party Wins Majority Of National Assembly og:description: Venezuela's opposition party has taken control of the National Assembly from the socialist party, a first since the 1990s. But what's the next move? og:url: https://time.com/video/cTDtJ924/ og:image: https://cdn.jwplayer.com/v2/media/cTDtJ924/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Venezuela's Opposition Party Wins Majority Of National Assembly twitter:description: Venezuela's opposition party has taken control of the National Assembly from the socialist party, a first since the 1990s. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Venezuela's Opposition Party Wins Majority Of National Assembly [Watch (HLS stream): Venezuela's Opposition Party Wins Majority Of National Assembly](https://cdn.jwplayer.com/manifests/cTDtJ924.m3u8) (1:31)  _Published 2015-12-07. Venezuela's opposition party has taken control of the National Assembly from the socialist party, a first since the 1990s. But what's the next move?_ --- Jul 27, 2023 7:17 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [A Split Has Emerged in Venezuela's Opposition Over Talks With Maduro](/video/5htyGKny/) ### A Split Has Emerged in Venezuela's Opposition Over Talks With Maduro [Venezuela's Maduro Has Disqualified His Opposition From the Next Presidential Election](/video/hodnbLfA/) ### Venezuela's Maduro Has Disqualified His Opposition From the Next Presidential Election [Venezuela's Opposition Calls for Another Nationwide Strike](/video/6RjJlogT/) ### Venezuela's Opposition Calls for Another Nationwide Strike --- ## Transcript For the first time since the 1990s, Venezuela's opposition party has captured the majority in the national assembly. The Democratic unity roundtable grabbed 99 seats, compared to just 46 for the previous ruling United Social Party of Venezuela. The party faces an uphill battle. The Venezuelan economy is largely dependent on oil, driving 95 % of its exports from oil and gas according to OPAQ. Dropping oil prices hit the country especially hard, causing hyperinflation and a 10 % contraction in the country's economy. And the former ruling socialist party may take the election's result as more of a suggestion to leave office. President Nicolas Meduro signed the campaign speech, I know we are going to triumph, but if there are negative circumstances, I will go to the streets and fight with the people. And it's not just empty talk. Political desenters had also been consistently stifled. One opposition leader was gunned down at a rally in November, and another received a 14 year jail sentence for allegedly citing violence. The conviction has drawn criticism from international human rights groups like, Human Rights Watch and some third party groups that monitor elections like, The Organization of American States, had been barred from vetting the fairness of the vote. Maduro's presidential term runs until 2019. So it could be difficult to get anything done with one party controlling the legislative branch, while another holds the highest executive office. But he could be ousted with a referendum vote as early as 2016. Even if Maduro is removed next year, that still leaves the opposition party with a lot of work to do in fixing the economy. Work it may not be equipped for. The Washington Post reported members of the opposition are worried they haven ´ t succeeded in uniting around a common vision on how to govern, beyond confronting Maduro. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Venezuela's Opposition Party Wins Majority Of National Assembly","description":"Venezuela's opposition party has taken control of the National Assembly from the socialist party, a first since the 1990s. But what's the next move?","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/cTDtJ924/poster.jpg?width=720","uploadDate":"2015-12-07T13:29:21.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/cTDtJ924.m3u8","embedUrl":"https://time.com/video/cTDtJ924/","duration":"PT1M31S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/cTDtJ924/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```