U.S. military forces conducted a targeted raid in January 2026 that captured former President Nicolás Maduro, installing interim leader Delcy Rodríguez and enabling subsequent U.S. oversight of oil sector deals worth tens of billions of barrels in reserves. Since then, Washington has pursued sanctions relief, foreign investment contracts with U.S. firms, and coordinated strikes on narcotics vessels while providing disaster relief after June earthquakes, with ongoing diplomatic engagement including potential high-level talks at the UN General Assembly. These steps have produced a cooperative interim government focused on economic stabilization and production recovery rather than confrontation, reducing incentives for broader military intervention. Trader assessments reflect this shift toward negotiated leverage and commercial access over large-scale ground operations.