U.S.-Venezuela tensions peaked with a targeted military operation in early January 2026, when U.S. forces captured President Nicolás Maduro amid disputes over oil reserves and sanctions evasion, prompting varied characterizations as an invasion or special raid. This led to regime transition, increased U.S. military presence, and policy shifts like the Treasury's early April suspension of sanctions on Acting President Delcy Rodríguez to stabilize energy exports. No further airstrikes, troop deployments, or escalations have occurred in the past 30 days, reflecting trader focus on the Trump administration's foreign policy priorities, congressional oversight on Latin America, and barriers to full-scale intervention like international backlash and domestic legal challenges. Upcoming hearings on regional security could sway probabilities.