US military forces carried out a major operation in Venezuela on January 3, 2026, capturing President Nicolás Maduro and his wife on narco-terrorism charges after months of escalating pressure that included Caribbean naval deployments and strikes on suspected drug vessels. The Trump administration has since indicated it will oversee aspects of governance and oil infrastructure during a transition period. Regional diplomatic responses remain divided, with some nations condemning the action and others supporting it, while reports of renewed bilateral relations have emerged. Key factors for traders include the pace of any post-capture stabilization, potential further US troop movements tied to counter-narcotics or security goals, and scheduled diplomatic or policy milestones through mid-2026 that could extend or limit military involvement.