Venezuela’s economic and political relationships have significantly evolved in the 21st century, primarily due to its reliance on oil revenues and shifting alliances in response to domestic and international challenges. Before 2017, Venezuela engaged actively with global markets, particularly the U.S., while developing ties with emerging powers like China and Russia. However, the contested 2017 elections solidified President Nicolás Maduro's authoritarian rule and led to geopolitical isolation, especially from the Americas and Europe, exacerbated by U.S. sanctions. These sanctions severely impacted Venezuela’s economy, which is heavily dependent on oil exports. Restrictions on access to U.S. financial markets hindered debt refinancing and oil sales, causing a dramatic drop in oil revenues and a humanitarian crisis. Concurrently, Venezuela turned towards non-Western partnerships, particularly with Russia and China, for economic support. The relationship with Russia deepened significantly post-2017, as the country provided vital support through debt restructuring, military cooperation, and facilitating oil exports to circumvent U.S. sanctions. This strategic partnership helped shield Maduro's regime from international pressure and stabilize Venezuela amid ongoing crises. In this context, Venezuela forged alliances with countries like Iran, Cuba, and Turkey, creating a counter-hegemonic bloc to resist external influence.

Since 2017, the climate for LGBTQAI+ rights in Venezuela has deteriorated significantly, characterized by increasing authoritarian controls and ultraconservative social policies. While same-sex sexual activity remains legal, enforcement and social acceptance of LGBTQAI+ rights have declined, with no progress on same-sex marriage or gender identity recognition. Transgender individuals face particular hardships due to the lack of legal gender recognition, preventing access to identity documents and essential services. The economic crisis further marginalizes LGBTQAI+ individuals, complicating access to benefits. In 2023, government hostility escalated with police raids on LGBTQ spaces, arbitrary detentions, and harassment of activists. With new restrictions on NGOs, human rights advocacy has become more perilous. The rise of conservative religious and political forces has normalized hate speech against LGBTQAI+ communities, and educational content related to gender and sexuality is being removed from curricula. Overall, since 2017, the general status of equal rights for all Venezuelans has declined, with marginalized groups enduring heightened discrimination and violence amidst an authoritarian regime. Economic mismanagement has exacerbated humanitarian crises, disproportionately affecting those on the legal and social margins, including the LGBTQAI+ population.

The 2017 Venezuelan Constituent Assembly election was marked by widespread allegations of fraud and political turmoil. Unlike the 1999 assembly, this election was called without a public referendum, undermining constitutional norms. Key fraudulent activities included the manipulation of voter turnout figures, with the government claiming over 8.1 million participants, a figure disputed by Smartmatic, the company responsible for electronic voting, which reported significant over-inflation. Investigations suggested actual turnout was much lower, likely between 2.2 million to 4 million. The lack of meaningful electoral oversight was exacerbated by a boycott from opposition parties, which removed crucial monitoring. Voters reportedly faced procedural irregularities, including the ability to vote multiple times due to lax identification checks. Additionally, there were reports of intimidation, with state employees pressured to vote under threat of job loss. The election process also experienced violent incidents, including threats to candidates. Domestically and internationally, the election was condemned as illegitimate, with major organizations and countries rejecting the results. Even within Venezuela, officials questioned the accuracy of the reported outcomes, highlighting the election's failure to meet international standards for integrity.