Venezuela Gets Its First Female President-But Not in the Way Anyone Expected

Venezuela’s Vice President Delcy Rodriguez has been officially sworn in as interim president after U.S. forces captured President Nicolás Maduro in a military operation over the weekend. The swearing-in took place at the country’s parliament building and was met with strong political and legal reactions both domestically and internationally.

Maduro, who was arrested in Caracas, has pleaded not guilty to U.S. federal charges, including drug trafficking and narco-terrorism. His wife, Cilia Flores, also pleaded not guilty and is reportedly injured. The couple is expected to remain in U.S. custody until their next court appearance on March 17.

The U.S. government has signaled its intention to support a political transition and to boost oil production in Venezuela, a country that sits atop the world’s largest oil reserves. President Donald Trump said the U.S. will “run” Venezuela until a “safe and proper transition” is achieved.

The U.S. military operation that led to Maduro’s arrest has drawn sharp criticism from Venezuela and its allies. At the United Nations, U.S. Ambassador Mike Waltz defended the action as a necessary step to prevent Venezuela’s energy resources from falling into the hands of an “illegitimate leader.”

Why Did This Happen?

The U.S. military operation was conducted under the justification of capturing Maduro for alleged involvement in drug trafficking and terrorism. According to the U.S., the charges include conspiracy to possess machine guns and destructive devices. The U.S. has also accused Maduro of creating a “cocaine-fueled corruption” network for his personal benefit and that of his regime.

The move appears to align with broader U.S. strategic goals to limit foreign investment in Venezuela’s energy sector by rivals like China, Russia, and Iran. Secretary of State Marco Rubio emphasized that the U.S. will not allow its hemisphere to be used as a base of operations for “adversaries and rivals.”

How Did Markets React?

The potential for U.S. oil companies to return to Venezuela has generated investor interest, although industry insiders remain cautious. Chevron is currently the only major U.S. oil company operating in Venezuela. ExxonMobil and ConocoPhillips, which previously operated in the country, had their assets nationalized under Hugo Chávez.

Trump has suggested that U.S. companies will invest billions to rebuild Venezuela’s oil infrastructure, but industry analysts believe such a recovery will require years of investment and infrastructure repair. The scale of reviving Venezuela’s oil production to 2 million barrels per day or higher will require “massive reforms” and large-scale investment from international energy firms.

What Are Analysts Watching Next?

The interim government led by Delcy Rodriguez has expressed a willingness to collaborate with the U.S. on an “agenda of cooperation oriented toward shared development.” However, Rodriguez is currently banned from the UK and faces international sanctions. This has raised questions about the legitimacy of her leadership and the international community’s response.

Rodriguez has also emphasized that her government will pursue a policy of “peace and dialogue” and has invited U.S. involvement in an international legal framework. However, internal divisions within Venezuela’s political and military leadership suggest that the path forward is far from clear.

The U.S. government has indicated it will hold further discussions with major oil companies about Venezuela’s energy future. Energy Secretary Chris Wright is expected to meet with industry executives at an upcoming conference, although it is unclear if such discussions have already taken place.

The Trump administration has not yet provided details on whether it will offer financial guarantees to oil companies investing in Venezuela. Analysts suggest that without such protections, companies will proceed with caution due to concerns over political risk and potential nationalization.

The legal and political situation in Venezuela remains fluid. While the U.S. has positioned itself as a key player in the country’s future, the extent of its influence and the speed of any potential investment will depend heavily on how the interim government operates and the international community’s response.