Weekly Report - 15 January 2026 (WR-26-02)

Nearly two weeks on from the US military raid on Caracas to seize former president Nicolás Maduro (2013-2026), Venezuelans are facing the prospect of their country being pulled tightly into Washington’s orbit without any corresponding democratisation process, at least in the short term. President Donald Trump’s comments on Venezuela remain largely focused on the country’s oil industry and on how its government, now led by Maduro’s former deputy Delcy Rodríguez, will allow the US to control the sector. The reaction from oil executives has been notably tepid, however, amid concerns over Venezuela’s political stability, its crumbling oil and electricity infrastructure, a pervasive culture of corruption, and the risk of violence against expat oil workers.