U.S. special operations forces conducted a targeted raid on Caracas on January 3, 2026, capturing President Nicolás Maduro and his wife for U.S. narco-terrorism charges, accompanied by limited airstrikes on military targets. Subsequent developments include U.S. recognition of interim leadership under Delcy Rodríguez, a major August 2026 oil agreement granting American firms stakes in Venezuelan reserves, and coordinated military support for earthquake relief in June. Congressional efforts to constrain further unilateral action, ongoing diplomatic and economic engagement, and joint operations against criminal networks have shaped trader views. No large-scale ground invasion has occurred, with U.S. presence focused on security cooperation, sanctions relief, and resource access rather than occupation. Scheduled events such as Maduro’s trial and implementation of energy deals could influence any escalation risks within resolution windows.