Over the weekend, the United States carried out a direct operation in Venezuela, capturing longtime president Nicolás Maduro and flying him to the U.S. to face criminal charges. The operation included air and naval activity around Caracas, temporary power outages, and a rapid extraction that removed Maduro while leaving much of the existing government intact.
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President Trump said the U.S. plans to “run Venezuela” for now, but the White House offered few details on what that would mean in practice. Rather than a full regime overhaul, the administration appears to be pursuing a narrower strategy: pressuring remaining leadership — including Vice President Delcy Rodríguez — to cooperate, while keeping the option of further military action on the table if that cooperation fails.
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This ambiguity matters for markets. The removal of one leader does not automatically restore stability. Venezuela’s institutions, security forces, and oil infrastructure remain fragile after years of mismanagement and sanctions. Investors are therefore less focused on the symbolism of Maduro’s capture and more focused on what comes next — especially around oil policy, sanctions, and control of exports.

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