WHAT IS THE SITUATION REGARDING VENEZUELA’s DEEPENING CRISIS?

The U.S. military recently apprehended Venezuelan President Nicolás Maduro and his wife in Caracas on January 3^rd as part of "Operation Absolute Resolve." Both were taken into custody and brought before a U.S. court. They face four charges: conspiracy to commit narco-terrorism, conspiracy to import cocaine, and conspiracy to possess machine guns and destructive devices.

The report states that the Venezuelan army was actually in collusion with the United States. Therefore, the Venezuelan army did not fire a single missile, or even a single bullet, at the American forces. The US won the war in just three hours. Venezuela surrendered without a fight.

According to the Associated Press, many lives were lost in the US military operation. Venezuelan Attorney General Tarek William Saab said that dozens of security officers and civilians were killed in the operation in Caracas. Cuba confirmed the deaths of 32 of its military and police officers. Meanwhile, six of the 200 US soldiers involved were wounded.

In Venezuela, Nicolás Maduro has been sworn in for a third term as president. Maduro declared himself "innocent" before a U.S. court, asserting that he is still the president of Venezuela. He categorically denied all four charges of narco-terrorism and drug trafficking.

 

SWORN IN AS INTERIM PRESIDENT

Currently, Venezuelan Vice President Delcy Rodríguez has been sworn in as interim president. Following Maduro's arrest, interim President Delcy Rodríguez lashed out at the United States. She declared seven days of national mourning in honor of those killed in the alleged US military attack in Caracas.

She said that they had been attacked. Speaking to the media, she stated that Venezuela is a peaceful country and is not subject to any external power. He also demanded the immediate return of Maduro and his wife, Cilia Flores.

Donald Trump has said that he is effectively running Venezuela. He also warned that the United States would not hesitate to take further action if the interim government's acting president does not cooperate.

 

STRONG OPPOSITION IN THE UNITED NATIONS GENERAL ASSEMBLY

At the United Nations General Assembly, several countries, including Russia and China, strongly condemned the US actions in Venezuela.  Rodríguez stated that this is not a war because "we are not at war; we have been attacked." Emphasizing the country's sovereignty, she added that the Venezuelan government is monitoring the situation in its own country.

The US has faced widespread condemnation for a “crime of aggression” in Venezuela at an emergency meeting of the United Nations Security Council.

The emergency meeting was called on the request of Colombia in which several countries, including Russia, China, Iran, Colombia, Cuba, Eritrea, South Africa, Brazil, Spain and Mexico, participated and condemned the US attack on Venezuela, calling it a blatant violation of the UN Charter.

OPINION IN THE UNITED STATES IS DEVIDED

According to a Washington Post and SSRS survey, opinion in the United States is divided regarding Maduro's arrest. 40 percent of Americans believe it is justified, while 45 percent consider it wrong. 20 percent remain undecided.

According to a Reuters/Ipsos poll, 33 percent of Americans support the kidnapping of Maduro, while 34 percent oppose it and 32 percent are undecided.

Some delegations argue the action was exceptional and justified; others warn it risks normalising unilateral force and eroding state sovereignty.

GLOBAL OIL PRICES

ANI, citing experts, reported that a US attack on Venezuela is unlikely to have a significant impact on global oil prices, as the country's crude oil production is approximately 1 million barrels per day, which is about 1% of the global supply.

The United States has also strengthened its Strategic Petroleum Reserve and increased domestic oil production, which has helped insulate the global market from potential disruptions.

Going forward, the impact will depend on political developments in Venezuela and Washington's next steps. If the U.S. allows American companies to invest in Venezuela's oil sector, production could increase over time, potentially impacting global oil markets in the long run.

In recent statements, Trump said that Venezuela had "stolen our oil rights" years ago during the nationalization of foreign assets, signaling an intention to re-establish U.S. corporate control over these reserves.

BRIEF HISTORY OF VENEZUELA

Venezuela was once the fourth richest country in the world. In 1952, while many countries around the world were still recovering from the devastation of World War II, Caracas, the capital of Venezuela, boasted VIP roads lined with gleaming luxury cars. Skyscrapers were being built. In the 1970s, when the oil crisis hit the world and prices skyrocketed, dollars poured into Venezuelan households. Stories from that era are still legendary. 

 People would fly to Miami for weekend shopping trips. Venezuela was one of the world's biggest buyers of the most expensive Scotch whisky and champagne. The people had begun to feel that they no longer needed to work hard. Its per capita income was even higher than that of developed countries like Spain, Greece, and Israel.

In 1976, the government nationalized the oil industry and created the state-owned company PDVSA. It was one of the most profitable oil companies in the world. But this country has lost everything it had gained in 70 years during the last decade.

This also serves as a lesson on how a country can be completely ruined without a single war. Venezuela focused all its efforts solely on oil extraction. They neglected agriculture, manufacturing, and other businesses. As a result, they became dependent on other countries for everything from needles to food, and began trading oil for goods.

After 1999, the government squandered money on free schemes instead of investing in the country's future. Everything was fine as long as oil prices were high, but as soon as oil prices fell, the government didn't even have enough money to pay salaries.

The state-owned oil company (PDVSA) was purged of competent engineers and filled with political loyalists. This led to a deterioration of oil production technology, and more than six million educated people (doctors, engineers) left the country.

By 2018, inflation in the country had reached extreme levels. People were forced to carry bags full of banknotes just to buy a dozen eggs. The money wasn't counted; instead, the goods were placed on one side of a scale and bundles of banknotes on the other.

WHO SAYS WHAT

Meanwhile, Anuj Gupta, Director of Ya Wealth, believes that the US attack on Venezuela is expected to trigger geopolitical tension in the region, which is expected to fuel the uncertainty.

UN Secretary-General António Guterres warned that arresting Maduro could increase instability in Venezuela and the entire region. He also questioned whether the operation complied with the rules of international law.

Russia's Permanent Representative to the United Nations, Nebenzya, said: "We cannot allow the United States to declare itself some kind of supreme judge, with the sole right to attack any country."

Chinese representative Fu Cong also supported the accusation, stating that the United States had "arbitrarily trampled on Venezuela's sovereignty" and violated the principle of sovereign equality. "No country can act as the world's policeman."

U.S. Ambassador to the U.N. Mike Waltz cited Article 51 of the UN charter, which enshrines the right to self-defense, and said the evidence against Maduro would be presented openly in US court. He described the Venezuelan leader as “an illegitimate so-called president” and claimed that millions of Venezuelans, including exiles in Florida, were celebrating his arrest.

However, it remains unclear how Trump will impact Venezuela. The U.S. has no direct control on the ground, and the Maduro government not only remains in power but also shows little interest in negotiating with Washington.

Nevertheless, it cannot be denied that Venezuela, despite being an economically weak country, considers itself on par with a superpower and is inviting trouble by challenging it in the same language, when it should have avoided doing so.