Big Take How the ‘Power Game’ Is Reshaping Venezuela
19 snips
Feb 26, 2026 
Phil Gunson, senior analyst for the Andes region at the International Crisis Group based in Caracas, brings decades of Venezuelan expertise. He walks through the US military buildup and the unexpected capture of Maduro. He assesses who is actually running Venezuela now, Delcy Rodríguez's survival strategy, the mix of oil and geopolitics, and the practical limits of foreign control.
AI Snips
Chapters
Transcript
Episode notes
Military Buildup Shifted From Bluff To Credible Threat
- The U.S. military buildup before January 3rd was initially read as a bluff meant to pressure Maduro to leave.
- Aircraft carrier deployment and prolonged saber rattling made the threat credible enough that analysts stopped assuming it would just sail away.
Caracas Woke To Maduro's Capture And Immediate U.S. Succession Plan
- Phil Gunson describes the shock of learning Maduro was captured and how quickly Washington issued guidance on succession.
- Within hours Trump announced the U.S. would deal with Delcy Rodriguez, surprising locals who were still processing the raid.
No Boots No Embassy Means The U.S. Isn't Literally Running Venezuela
- Removing Maduro didn't create clear U.S. control on the ground because there were no boots, no diplomats for years, and Venezuela's institutions still function.
- Phil argues that calling it 'the U.S. running Venezuela' is misleading given the country's size, terrain, and armed actors.