US military operations in Venezuela began with the January 3, 2026, Operation Absolute Resolve, which included airstrikes on air defenses and infrastructure around Caracas, enabling special forces to capture Nicolás Maduro and his wife for U.S. drug trafficking charges. Vice President Delcy Rodríguez assumed the interim presidency amid a declared state of emergency. Subsequent developments include reopened diplomatic ties by March, lifted oil sanctions, and U.S. coordination on economic reforms. As of mid-June 2026, reports indicate targeted U.S. airstrikes against Tren de Aragua leaders conducted jointly with Venezuelan forces. Trader assessments of additional entries hinge on the trajectory of U.S. counternarcotics efforts, energy sector access, and stability under the interim government versus risks of renewed escalation or congressional limits on further action.