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Venezuela has experienced an extraordinary political transformation in 2026, creating a new geopolitical situation in Latin America.
The country has long been affected by political instability, economic decline, international sanctions and disputes over democratic governance.
An extraordinary development occurred in January 2026 when US forces captured President Nicolás Maduro. According to the Council on Foreign Relations, acting president Delcy Rodríguez subsequently assumed government responsibilities under significant pressure from Washington.
Maduro and his wife, Cilia Flores, later pleaded not guilty to new US charges alleging involvement in the torture of political opponents.
The country's political future remains uncertain.
Opposition leader María Corina Machado returned to Venezuela on October 25 after almost a year in exile. She has called for new elections and greater transparency regarding the country's oil industry.
The United States has also made changes to its sanctions policy, including lifting sanctions against Venezuela's National Assembly head Jorge Rodríguez in October.
Oil is central to this political transformation.
Venezuela possesses some of the world's largest proven petroleum reserves. Control over oil production, exports and international investment will therefore remain central to the country's future.
The crisis has implications beyond Venezuela because of the country's relationships with China, Russia, Cuba and other international partners.
Geopolitical significance:
Venezuela has become an important example of how political intervention, energy resources and international power competition can intersect.