• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts

2

Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it

3

Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts

1

U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts

2

Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it

3

Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
PoliticsVenezuela

Trump snatches Maduro but leaves his regime in charge for now

By
Catherine Lucey
Catherine Lucey
,
Eric Martin
Eric Martin
,
Jamie Tarabay
Jamie Tarabay
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Catherine Lucey
Catherine Lucey
,
Eric Martin
Eric Martin
,
Jamie Tarabay
Jamie Tarabay
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
January 3, 2026, 9:05 PM ET
A plane allegedly carrying ousted Venezuelan president Nicolas Maduro taxis at Stewart Air National Guard Base in Newburgh, New York, on January 3, 2026.
A plane allegedly carrying ousted Venezuelan president Nicolas Maduro taxis at Stewart Air National Guard Base in Newburgh, New York, on January 3, 2026.Leonardo Munoz—AFP via Getty Images
Add Fortune on Google for similar content.

Hours after President Donald Trump stunned the world by saying the US plans to “run” Venezuela, uncertainty over what that means and who is in charge loomed over the South American nation.  

Recommended Video

Ousted Venezuelan President Nicolás Maduro was an indicted prisoner on a flight bound for New York by the time his Vice President Delcy Rodríguez — who Trump said would partner with Washington to “make Venezuela great again” — denounced the intervention as “barbaric” and a “kidnapping.” 

Adding to the confusion was that the White House offered few details about what running an oil-producing nation of about 30 million people would entail. A US official said Secretary of State Marco Rubio — who has spent his career criticizing Maduro and his predecessor, Hugo Chavez — would take the leading administration role. 

For now, there’s no plan spelled out to have American troops or administrators in Venezuela. But Trump signaled he’s keenly focused on the country’s petroleum, saying the US would have a “presence in Venezuela as it pertains to oil.” That could mean a greater role for Chevron Corp., which still operates in Venezuela under waivers from sanctions, as well as for other major American oil companies. 

Trump’s resistance to keeping American boots on the ground and his dismissal of Venezuela’s opposition leader Maria Corina Machado as a “nice woman” not ready to take power suggest he decided on giving Rodríguez and other Maduro loyalists a second chance over full-blown regime change. Maduro was in US custody in Manhattan by Saturday evening, according to a person familiar with the matter who requested anonymity.

Trump is “essentially trying to control the vice president and people around her through carrots and sticks to get the outcomes the United States wants,” said Matthew Kroenig, vice president and senior director of the Atlantic Council’s Scowcroft Center for Strategy and Security. “We’ll see if it works.” 

Trump appeared to confirm that approach with his remarks later in the day to the New York Post, when he said that US troops on the ground would not be necessary as long as Rodríguez “does what we want.” 

That strategy is a huge gamble — particularly for a president who campaigned in 2016 on ending America’s “forever wars” but has since used the US military to strike targets in Iran, Yemen, Nigeria and the Caribbean Sea. 

Venezuela has suffered through decades of mismanagement that eroded the country’s oil infrastructure, sparked prolonged bouts of hyperinflation and saw millions of economic and political migrants flee for neighboring countries and the US. A total collapse of the government sparked by the early morning US strike risks causing even more turmoil.  

Rodríguez, considered by many to be the most powerful person in the country after Maduro, gave mixed messages in her public comments on Saturday. She called for the ousted president’s return, but she also said Venezuela could still have “respectful relationships,” perhaps offering a path to a detente with the US if she can consolidate power and the two sides cooperate. 

Trump warned of a potential second wave of American attacks if that cooperation isn’t forthcoming. 

“All political and military figures in Venezuela should understand what happened to Maduro can happen to them, and it will happen to them” if they weren’t “fair” to the Venezuelan people, he said.

‘Run Properly’

In the short term — and barring a breakdown of governance — the administration’s move could offer it the opportunity to help revive Venezuela’s decaying oil industry, something that Trump seemed particularly focused on when he announced Maduro’s capture. 

“We’re going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country,” Trump said. In the same news conference, he said, “We’re going to make sure that that country is run properly.”

A multiyear recovery of Venezuelan oil production could entail a 4% decline in global oil prices over time, according to an analysis by Bloomberg Economics. That would help the US president address the affordability concerns voters have, but energy analysts added that it could take years for Venezuela’s oil industry — plagued by mismanagement, corruption and sanctions — to recover.  

“Both upside and downside scenarios have significant implications for Venezuela’s outlook, debt markets, global oil supply, and the US standing in the region and the world,” Bloomberg Economics analyst Jimena Zuniga wrote. 

Following the Trump news conference, a US official laid out some priorities for the coming days, saying that administration officials will engage diplomatically with those remaining in the Venezuelan government, as well as with oil executives on expanding output. The official said the US military will remain ready and the oil embargo will remain in effect. US strikes on suspected drug vessels will continue. 

Yet the uncertainty over what really happens next hung over Caracas as it settled into its first night without Maduro in more than a decade, with many of his regime’s loyal backers still in the country. 

That reality, and Delcy Rodríguez’s long history with Maduro, are “why I’m a bit skeptical this can work out long term,” said Ryan Berg, director of the Americas Program and head of the Future of Venezuela Initiative at the Center for Strategic and International Studies in Washington.

All day long, Venezuelans lined up outside grocery stores and gas stations amid worries about the nation’s future. 

“A bigger concern really would be that this all falls apart here, that there isn’t an effort to make sure there’s a successful handoff,” said Matt Terrill, managing partner at Firehouse Strategies. 

Iraq, Afghanistan

While Trump sought to project optimism, the military maneuver recalled past US efforts at regime change that yielded mixed results. 

Under President George W. Bush the US invaded two countries, Afghanistan after the Sept. 11, 2001 attacks and Iraq, to depose Saddam Hussein, in 2003. Both conflicts and the insurgencies they spawned mired the US in bloody and costly occupations for years. Frustration over those deployments and the messy Afghanistan withdrawal helped propel Trump to the presidency twice.

It’s now a legacy he — and perhaps Rubio, a potential 2028 presidential candidate — risks taking on. 

“This is, to paraphrase Winston Churchill, not the beginning of the end, but the end of the beginning,” CSIS’s Berg wrote on Saturday. “Venezuela will enter a long transition with even greater U.S. involvement in shaping the government to come.” 

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Catherine Lucey
See full bioRight Arrow Button Icon
By Eric Martin
See full bioRight Arrow Button Icon
By Jamie Tarabay
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Meet ‘Freedom Fuel Network’ stations, a new chain with cheaper gas and mysterious origins
EnergyDonald Trump
Meet ‘Freedom Fuel Network’ stations, a new chain with cheaper gas and mysterious origins
By Joshua HongJuly 10, 2026
18 hours ago
At least a million woman lose access to humanitarian supports thanks to Trump budget cuts
PoliticsDonald Trump
At least a million woman lose access to humanitarian supports thanks to Trump budget cuts
By The Associated PressJuly 10, 2026
1 day ago
Vietnam is paying women to have more babies—but there’s a catch: they have to be on baby no. 2 to qualify for the $68 million budget
SuccessCareers
Vietnam is paying women to have more babies—but there’s a catch: they have to be on baby no. 2 to qualify for the $68 million budget
By Orianna Rosa RoyleJuly 10, 2026
1 day ago
Trump cheers Gwynne Shotwell as Elon Musk’s SpaceX No. 2 gives $325 million in stock to Trump Accounts
North AmericaSpaceX
Trump cheers Gwynne Shotwell as Elon Musk’s SpaceX No. 2 gives $325 million in stock to Trump Accounts
By Mia OsmonbekovJuly 9, 2026
2 days ago
Altman says OpenAI made ‘many changes’ during talks with U.S.
AISam Altman
Altman says OpenAI made ‘many changes’ during talks with U.S.
By Lorelei Smillie and BloombergJuly 9, 2026
2 days ago
Three-time Olympic canoeist pleads not guilty to touching water in Reflecting Pool vandalism charge
PoliticsDonald Trump
Three-time Olympic canoeist pleads not guilty to touching water in Reflecting Pool vandalism charge
By Michael Kunzelman and The Associated PressJuly 9, 2026
2 days ago

Most Popular

U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts
Economy
U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts
By Eleanor PringleJuly 10, 2026
1 day ago
Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it
Middle East
Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it
By Jason MaJuly 10, 2026
22 hours ago
Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
Success
Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
By Emma BurleighJuly 9, 2026
2 days ago
Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
Environment
Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
By Sasha RogelbergJuly 10, 2026
24 hours ago
Current price of oil as of July 10, 2026
Personal Finance
Current price of oil as of July 10, 2026
By Joseph HostetlerJuly 10, 2026
1 day ago
Farm groups saved Bayer in court over RoundUp cancer claims. Five days later, Bayer called for tariffs on the ingredient farmers rely on
Economy
Farm groups saved Bayer in court over RoundUp cancer claims. Five days later, Bayer called for tariffs on the ingredient farmers rely on
By Mia OsmonbekovJuly 9, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.