President Donald Trump announced the raid, posting a photo of Maduro in custody aboard a US warship and declaring the US would temporarily "run" the country to facilitate a transition and revive its vast oil industry.
The operation marks the abrupt end to Maduro's 13-year rule, which oversaw one of history's worst peacetime economic collapses in a nation boasting the world's largest proven oil reserves.
Venezuela, once Latin America's richest country, peaked with a GDP of $373 billion in 2012. Mismanagement, overreliance on oil, populist spending, and corruption under Hugo Chávez and Maduro slashed output from 3.5 million barrels daily in the late 1990s to around 1 million today.Hyperinflation hit 130,000% in 2018, forcing citizens to weigh bundles of worthless notes for basic goods. Over 80% of the population fell into poverty, triggering an exodus of more than 7 million people.
Dutch disease left the economy undiversified, importing essentials while nationalised PDVSA deteriorated from political appointments and neglect. US officials hailed the capture as justice for alleged drug trafficking ties. Maduro, a former bus driver who rose under Chávez, denied charges and blamed sanctions for the crisis.
Trump pledged American firms would invest billions to restore infrastructure, potentially flooding markets with Venezuelan heavy crude. For India, heavily reliant on imported oil, lifted sanctions could mean discounted supplies akin to Russian deals, easing fuel prices. Firms like Reliance Industries and ONGC, with stalled Venezuelan assets, stand to benefit.
Yet uncertainty looms. Maduro allies retain control in Caracas, denouncing the "kidnapping." International reactions split, with condemnation from China and Russia, support from some Latin leaders. As Maduro faces arraignment, Venezuela's fate hangs on whether stability returns—or deeper turmoil ensues.
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