On January 3, 2026, the U.S. conducted a military attack in Venezuela and kidnapped President Nicolas Maduro and his wife, First Combatant Cilia Flores. Since then, interim president Delcy Rodriguez, herself under a secret indictment, has enacted policy changes, including turning Alex Saab back over to the U.S., allowing the U.S. Southern Command (SOUTHCOM) to operate in the country, and giving the U.S. access to Venezuela's oil revenues. William Camacaro provides analysis.