Trump’s announcement followed confirmation from Venezuelan authorities that at least 24 Venezuelan security personnel were killed during the overnight U.S. operation in Caracas. The raid reportedly aimed to detain Maduro and transfer him to the United States to face long-standing drug trafficking charges.
Venezuela’s acting leadership condemned the operation, describing it as a violation of sovereignty. Attorney General Tarek William Saab stated that dozens of civilians and security officers may have died and labelled the incident a potential war crime, though precise casualty figures remain disputed.
Regional Fallout and Cuban Casualties
The Cuban government confirmed that 32 Cuban military and police personnel stationed in Venezuela were killed during the strike. Havana stated that the deceased belonged to Cuba’s Revolutionary Armed Forces and Ministry of the Interior, intensifying regional diplomatic tensions.
Meanwhile, the Pentagon acknowledged that seven U.S. service members were injured during the operation. Five have since returned to active duty, while two continue to recover from gunshot and shrapnel injuries.
Oil Industry and Market Implications
With global oil prices hovering near $56 per barrel, the proposed Venezuelan oil transfer could be valued at nearly $2.8 billion. The volume represents roughly two and a half days of total U.S. oil consumption, according to data from the U.S. Energy Information Administration.
The White House is expected to hold discussions with major U.S. oil companies, including Exxon, Chevron, and ConocoPhillips, to determine how Venezuelan oil assets could be managed. Industry executives, however, have indicated that they were not consulted prior to Trump’s announcement.
Political Messaging and Domestic Response
Trump has pushed back against criticism from Democratic leaders, arguing that there has been bipartisan agreement for years on prosecuting Maduro for narcotics trafficking. He expressed frustration that the operation did not receive broader political praise despite what he termed a strategic success.
The U.S. indictment against Maduro dates back to 2020, accusing him of narco-terrorism and cocaine trafficking. The current administration had earlier doubled the reward for information leading to his arrest to $50 million.
Uncertain Road Ahead
As Caracas witnessed state-organised rallies supporting Venezuela’s interim leadership, questions remain over who will ultimately control the country’s vast oil reserves. Trump has stated that Washington will now “run” Venezuela policy, urging the country’s leadership to open its energy sector to American firms.
Analysts warn that while the oil deal could offer short-term market stability, the long-term geopolitical consequences of direct U.S. intervention in Venezuela may prove far more complex and destabilising.