The January 2026 U.S. military operation that captured Nicolás Maduro and facilitated a transition to interim leadership under Delcy Rodríguez has shifted bilateral dynamics toward diplomatic engagement. U.S. and Venezuelan authorities reopened the embassy in Caracas and resumed consular relations by late March, prioritizing oil sector stabilization, sanctions relief, and political reconciliation over further force. No subsequent U.S. troop movements or strikes have been reported in the Caribbean region since the initial operation, while regional actors and international bodies have emphasized de-escalation. These developments frame trader assessments of any near-term re-entry of U.S. forces, with scheduled diplomatic meetings and Venezuela’s internal transition timeline serving as the primary near-term variables.