The Intelligence from The Economist Nicolás caged: what next for Venezuela?
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Jan 5, 2026 
Shishang Joshi, the Defense editor, delves into the complexities of the U.S. special-forces raid to capture Nicolás Maduro, comparing it to past military operations. Hal Hodson, America's editor, analyzes the political consequences of the operation and the U.S. motives, including power dynamics related to oil. Tom Wainwright, the Media editor, discusses the gaming industry's slowdown post-pandemic, the anticipated impact of GTA 6, and how AI could revolutionize game development while presenting potential risks.
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Buildup Was Planned, Motives Mixed
- The US buildup off Venezuela was months in the making and surprised observers with its dramatic execution.
- Trump's motivations blend strategic power projection with interest in Venezuela's vast oil reserves.
Running Venezuela Means Leverage, Not Rule
- 'Running' Venezuela likely means coercive leverage, not full governance control.
- The regime's internal factions limit how much one external lever can dictate outcomes.
Vice-President's Quick Shift
- Delcy Rodríguez initially denounced the US as barbaric and insisted Maduro remained president.
- Within hours she softened her tone and opened to dialogue after US pressure and threats.