What happened in Venezuela?

Nicolás Maduro and his wife were captured in a targeted US military operation and now face narco-terrorism charges in the US. Despite this, Maduro’s inner circle remains largely intact, with Vice President Delcy Rodríguez formally taking charge, signalling a managed transition rather than a complete power shift.

The US plans to support a political transition in Venezuela and to start major oil investments; even in the best case, production increases will take time due to logistical and infrastructure challenges. In the short term, oil market impacts are likely to be limited, while greater US control over Venezuelan oil supports the US dollar, although geopolitical risks may weigh on investor confidence.

Read the full article to learn more about the implications of the US move on Venezuela. 

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Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 7 January 2026. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.
 

Date of first use: 7 January 2026

Doc ID: 5097137