In recent months, United States President Donald Trump has sharply escalated his attacks on Venezuelan President Nicolas Maduro, accusing him of fuelling drug trafficking and driving mass migration from the Caribbean nation into the US.<\/p>\n
More recently, Trump has piled\u00a0increased pressure\u00a0on Venezuela with a military buildup in the Caribbean Sea, in what he calls an anti-drug trafficking campaign. Caracas says that US actions are instead aimed at toppling Maduro\u2019s government.<\/p>\n list of 4 items<\/span>end of list<\/span><\/section>\n Trump met his national security team on Monday to discuss \u201cnext steps\u201d on Venezuela, according to media reports. Washington\u2019s continued deployment of military assets to the region has sparked concerns of a possible war.<\/p>\n Last weekend, Maduro told a crowd outside the presidential Miraflores Palace that he wanted peace with the US, but only on the condition of \u201csovereignty, equality and freedom \u2026 We do not want a slave\u2019s peace, nor the peace of colonies! Colony, never! Slaves, never!\u201d<\/p>\n In recent weeks, Trump confirmed that he authorised the CIA to carry out secret operations in Venezuela. In addition, he has deployed the world\u2019s largest aircraft carrier, USS Gerald R Ford, thousands of troops, and F-35 military jets to the Caribbean.<\/p>\n On November 20, Trump said that land strikes inside Venezuela could come imminently. However, while some view the president\u2019s comments and operations as a preparation for military action, Trump told reporters last weekend not to \u201cread anything\u201d into his recent moves.<\/p>\n Venezuela has been conducting regular military drills over the past few weeks in preparation for any possible attack.<\/p>\n Washington\u2019s recent show of force recalls a\u00a0long history\u00a0of military interventions across Latin America by successive US governments, often motivated by fear of hostile powers close to US borders.<\/p>\n Since the 1990s, ties between Washington and Caracas have been dominated by tensions linked to Maduro\u2019s left-wing predecessor, Hugo Chavez. The bilateral relationship deteriorated further after Maduro came to power following Chavez\u2019s death in 2013.<\/p>\n In recent months, US military strikes on alleged Venezuelan drug smugglers in the Caribbean have dominated relations.<\/p>\n In July, US Secretary of State Marco Rubio accused Maduro of being \u201cthe leader of the designated \u2018narcoterrorist\u2019 organisation Cartel de los Soles\u201d and responsible for \u201ctrafficking drugs into the United States and Europe\u201d. He did not provide evidence to back his claim.<\/p>\n Moreover, experts say Cartel de los Soles is not a cartel.<\/p>\n For his part, Maduro has accused Washington of using the drug offensive as a pretext for orchestrating regime change and seizing Venezuelan oil.<\/p>\n The US has amassed 15,000 troops in the region and deployed an aircraft carrier there.<\/p>\n It has also carried out at least 21 strikes on alleged drug boats in the Caribbean and the Pacific since September, killing up to 83 people.<\/p>\n Meanwhile, military experts say assembled US firepower in the Caribbean Sea far outweighs what is necessary for a drug-trafficking operation, while\u00a0Caracas says the US is\u00a0seeking regime change\u00a0to take control of Venezuela\u2019s vast natural resources, including oil.<\/p>\n Last week, a Delaware judge ordered the sale of Venezuelan oil company Citgo \u2013 a Houston-based subsidiary of the state-owned oil company Petroleos de Venezuela, SA (PDVSA) \u2013 to pay off billions of dollars in missed debt repayments.<\/p>\n Venezuela on Tuesday denounced the US-ordered \u201cforced sale\u201d of the oil company, which would rob Venezuela of vital foreign revenue.<\/p>\n Elsewhere, Trump\u00a0declared that Venezuelan airspace had been \u201cclosed\u201d on November 29. His comments followed a warning from the US Federal Aviation Administration about a \u201cpotentially hazardous situation\u201d in Venezuelan airspace.<\/p>\n Despite professing to oppose \u201cforever wars\u201d, Trump\u2019s recent moves in Venezuela \u2014 including the threat of military strikes \u2014 signal a readiness to escalate tensions.<\/p>\n Numerous legal scholars have decried the US strikes in international waters as\u00a0illegal under both international and domestic law. The US Congress is investigating whether a second attack on an alleged drug boat in September killed survivors of an initial attack. The White House has defended the deadly attack.<\/p>\n UN Secretary-General Antonio Guterres has said that the US strikes on alleged boats were \u201cnot compatible with international law\u201d. He has expressed his concern about the escalating tensions between the US and Venezuela.<\/p>\n Venezuela\u2019s key political allies are unified by a shared resistance to US influence in the region. Russia remains its strongest geopolitical backer, offering military cooperation and diplomatic support. China, which is Venezuela\u2019s number one source of oil exports, also provides economic backing.<\/p>\n Venezuela and Iran also have a deepening bond \u2013 sharing an anti-Western worldview and, in the face of sanctions, both seeking alternative economic and diplomatic channels.<\/p>\n In Latin America, Venezuela relies on longstanding ideological allies such as Cuba, Nicaragua, and Bolivia. These governments consistently defend Caracas in regional bodies and maintain close ties through frameworks like ALBA-TCP and Petrocaribe.<\/p>\n Though Brazil and neighbouring Colombia are governed by left-wing governments, they have refused to recognise Maduro\u2019s 2024 re-election. However, they have voiced concerns about the military threats against Venezuela.<\/p>\n Venezuela holds the world\u2019s\u00a0largest proven oil reserves, estimated at 303 billion barrels in 2023. But it only exported $4bn worth of crude oil that same year, far below other oil-producing countries, largely due to US sanctions imposed during Trump\u2019s first term.<\/p>\n The country\u2019s oil production is dominated by PDVSA, which has faced challenges including ageing infrastructure, underinvestment, mismanagement and the effects of sanctions, all of which have limited Venezuela\u2019s ability to fully exploit its vast reserves.<\/p>\n According to data from the Observatory of Economic Complexity (OEC), Venezuela exported just $4.05bn worth of crude oil in 2023. This is far below other major exporters, including Saudi Arabia ($181bn), the US ($125bn), and Russia ($122bn).<\/p>\n Sanctions have also increased the price of imports. The country suffers from goods shortages and rampant inflation \u2013 the IMF forecasts it will reach 600 percent next year. The economic crisis, worsened by the US sanctions, has forced millions of people to flee to neighbouring countries in recent years.<\/p>\nRecommended Stories <\/h2>\n
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