By Staff, Agencies

Venezuela's US-backed opposition on Thursday voted to remove the so-called "interim government" led by Juan Guaido in a sign that Washington has conceded it cannot overthrow the democratically-elected government of Nicolas Maduro.

The move against Guaido, who has fallen out of favor with the US and its allies, was backed by three of four major opposition groups including Justice First, Democratic Action, and A New Era, but rejected by his Popular Will.

The opposition vote was passed on Thursday in a virtual Zoom session with 72 votes in favor, 23 against, and nine abstentions.

If the vote is approved next week, opposition lawmakers will choose five representatives for the board of directors that will head assets held abroad, and Guaido's so-called interim presidency will end.

The report said Justice First, Democratic Action and A New Era had for weeks been drafting a plan to create a board of directors to manage the South American country's assets frozen abroad, especially US-based refiner and fuel retailer Citgo, as a means to dislodge Guaido.

The opposition groups are reportedly seeking a ‘united front’ ahead of presidential elections tentatively scheduled for 2024 after failing to remove Maduro, who won re-election to a six-year term in 2018.

The US, along with dozens of allied countries – mainly in Western Europe – have refused to recognize the democratically-elected Maduro government in Venezuela, terming it "fraudulent", while backing the opposition-led so-called interim government. 

The vote comes one month after the Maduro government and the US-backed opposition held talks and reached an agreement to ease the protracted political and humanitarian situation in the country.

The two sides asked the United Nations to manage a fund from billions of dollars seized in foreign banks over US sanctions.

International efforts to resolve the Venezuelan crisis have gained momentum since Russia launched its military operation in Ukraine, which led to major obstruction in global energy supplies.

Washington has imposed several rounds of crippling sanctions on the oil-rich Latin American country in a bid to oust Maduro and replace him with Guaido.

The sanctions, which include the illegal confiscation of Venezuelan assets abroad and an economic blockade, have caused enormous suffering to millions of people in the country.