Following the capture of the Venezuelan president and his wife, President Trump suggested during his first press conference that the United States would run the country. This off-the-cuff remark created significant ambiguity and left senior administration officials struggling to elaborate on the president's official position.
Meanwhile, the crisis in Venezuela persists. Sporadic gunfire and unidentified drones were reported in Caracas last night, amid rumours of friction between the military and the new government led by former Vice President Delcy Rodriguez. The ousted president, Nicolas Maduro, maintains a loyal following and is supported by government-sponsored armed gangs. Without alignment between the government and the armed forces, a functioning system remains unlikely.
Maduro, a former bus driver with limited formal education, rose to power through his loyalty to the late Hugo Chavez. After a failed coup in the 1990s and a period in prison, he eventually ascended to the presidency, employing populist policies to maintain support among the poor. While this initially secured him a landslide re-election, his impulsive socialist policies—including the uncompensated nationalization of American oil companies—led to an economic catastrophe and infuriated the United States.
When oil prices dropped in 2008, the government could no longer afford the subsidies that kept the public content. By the time Chavez died in 2013, Maduro inherited a crumbling economy. Though he won the subsequent elections, widespread allegations of fraud led the West to impose heavy sanctions. These sanctions, combined with a lack of infrastructure investment, caused the economy to collapse, forcing millions into poverty and displacement.
Despite possessing the world’s largest proven oil reserves, Venezuela's production has dwindled to a trickle. Foreign investment stalled because President Maduro refused to hold fair elections or compensate American firms for past seizures. Instead of addressing these issues, President Maduro relied on socialist rhetoric and fist-raising gestures while his citizens faced starvation.
The U.S. has long accused elements of the Venezuelan government of drug trafficking. During his second term, President Trump warned Maduro to step down, an ultimatum Maduro ignored. Just before his capture, a distressed Maduro claimed that neighboring Colombia was responsible for the narcotics entering the U.S.—an admission that followed a mysterious explosion in the capital.
Maduro now faces an evidence-based trial in the U.S. on drug charges. He follows a path set by other Latin American leaders like Manuel Noriega and Juan Orlando Hernandez. Notably, President Trump recently pardoned Hernandez, claiming he was a victim of a political witch-hunt. This suggests Maduro might receive similar treatment despite the severity of the charges.
The situation remains unresolved. President Trump appears dissatisfied with both the opposition leadership and the current interim government. Given the mixed results of his recent diplomatic deals in Gaza and Southeast Asia, it remains to be seen how he intends to manage Venezuela’s future from a distance—especially with the U.S. mid-term elections just months away. During this period, domestic concerns like affordability and other pressing local issues are expected to resonate strongly with voters.
