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Interim President Delcy Rodriguez, in green, walks out of the National Assembly in Caracas, Venezuela, on January 5, 2026.
Marcelo Garcia/Miraflores Palace/Handout via REUTERS

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Venezuela's President Nicolas Maduro speaks with China's President Xi Jinping.
What We're Watching

What We’re Watching: China’s claim to Venezuelan oil, UK and France willing to commit troops to Ukraine, Israel and Syria revive talks

US President Donald Trump said Tuesday Venezuela would ship up to 50 billion barrels of crude oil, worth about $3 billion, to the US. Hours later, the US energy secretary said Washington would “indefinitely” control Venezuela’s oil industry, which is currently run by the Venezuelan government.

Where things stand with Venezuela: Washington makes its demands
Analysis

Where things stand with Venezuela: Washington makes its demands

It’s been just over 48 hours since US forces conducted a military operation in Caracas and seized Venezuelan strongman Nicolás Maduro, and the future governance of the country – and the US role in it – remains murky.

Venezuelans living in Colombia hold flags as they gather at Plaza de Bolivar to celebrate after U.S. President Donald Trump said the U.S. has struckVenezuela and captured its President Nicolas Maduro and his wife Cilia Flores, in Bogota, Colombia, January 3, 2026.
Hard Numbers

Hard numbers: Venezuela edition

303 billion: Venezuela is home to 303 billion barrels of oil reserves – the largest of any country, accounting for nearly a fifth of all proven reserves in the world. Proven reserves refers to oil that is known to exist and could be extracted with current technology.