**US military action against Venezuela has centered on a targeted January 2026 operation rather than a conventional invasion.** On January 3, U.S. forces conducted airstrikes and a raid that captured Nicolás Maduro and his wife, transferring them to face U.S. charges; President Trump described the goal as temporary U.S. management of the country during a transition while emphasizing oil interests and counternarcotics. The administration has since backed interim leader Delcy Rodríguez, secured an August 2026 oil agreement granting control over roughly one-fifth of Venezuela’s reserves, and advanced a three-phase stabilization, recovery, and democratic transition framework amid ongoing talks with opposition elements. June 2026 earthquakes further shifted focus toward humanitarian and reconstruction cooperation. Regional naval assets remain positioned for drug interdiction and leverage, yet no large-scale ground occupation has occurred, and statements have downplayed extended boots-on-the-ground commitments. These developments shape trader assessments of whether additional escalation would cross into full invasion territory within any near-term resolution window.