Venezuela is a South American nation rich in natural resources, especially some of the world’s largest proven oil reserves and other minerals.
Its economy has faced severe contraction, hyperinflation and persistent unemployment, partly due to long-term reliance on oil, domestic policy challenges, and international sanctions that have restricted trade and foreign investment. Agriculture and forestry contribute to the economy alongside oil, although economic output has remained weak in recent years.
The country has been mired in social and political turmoil for much of the past decade, with widespread protests and international criticism over governance, elections, and human rights.
In a dramatic escalation, the United States carried out airstrikes and a military operation in Venezuela in early January 2026 that resulted in the capture of President Nicolás Maduro and his wife and their transfer to U.S. custody, according to US officials.
This has sparked widespread global reaction, with Venezuela’s government rejecting the attacks as aggression and demanding proof of life, while the U.S. claims the move is tied to criminal indictments and regional security concerns.
This incident has created a constitutional and diplomatic crisis, with Vice President Delcy Rodríguez asserting leadership, the UN Security Council expected to meet, and countries around the world expressing divergent views on sovereignty, law, and stability.
US President Donald Trump has backed Pete Hegseth following midterm elections and scrutiny over military actions involving Iran. Trump commended Hegseth, remarking, 'He's done a fantastic job', while criticising 'woke' four-star generals. Trump asserted that military operations have been successful, citing an operation in Venezuela and arguing that the conflict involving Iran has seen minimal casualties in recent months while the United States controls the straits. Emphasising operational results, Trump noted that the US has succeeded tremendously with its naval blockade.
In this episode of Statecraft, Geeta Mohan examines critical global and national developments shaping politics and security. In Brazil, Luiz Inácio Lula da Silva secured an unprecedented fourth presidential term after defeating Flavio Bolsonaro in a closely contested election marked by economic uncertainty and political division. Meanwhile, tens of thousands of Israelis living overseas are flying home to cast their ballots in a decisive election that poses a direct challenge to Benjamin Netanyahu's leadership, with far-reaching consequences for Gaza, conflict with Iran, and United States Middle East strategy. In India, tension has escalated in Arunachal Pradesh over the proposed 11,200-megawatt Siang Upper Multipurpose Project, intended as a strategic buffer against China's massive upstream hydropower dam in Tibet. Protests spearheaded by the indigenous Adi community have turned violent amid fears of submergence and environmental damage. Finally, Venezuelan opposition leader María Corina Machado has returned to Caracas after months abroad, following dramatic political shifts in Venezuela.
A prominent opposition leader and Nobel Peace Prize laureate has returned to Venezuela after nearly a year abroad, making a public appearance before a massive gathering of supporters outside a basilica. The return comes amid widespread uncertainty over the future of the nation, democratic governance, and upcoming elections following significant political upheaval. Observers report that repressive state structures and surveillance mechanisms remain active across the country, continuing the detention and monitoring of political activists. While citizens demand a clear democratic transition and fresh elections, questions persist over stability and official response to the opposition leadership.
US Secretary of State Marco Rubio dismissed UN criticism of India's response to anti-CEC protests, questioning the credibility of UN experts and affirming India's democratic electoral process while declining to intervene in domestic matters. Over 20 UN experts had previously urged Indian authorities to halt alleged excessive force, baton charges, detentions, and digital disruptions, calling for an independent inquiry. India rejected the remarks, asserting that human rights concerns must not serve as instruments for political pressure. The diplomatic exchange coincides with Rubio's official visit focusing on bilateral energy cooperation, Venezuela affairs, and discussions surrounding crude oil refining at Gujarat's Jamnagar refinery complex.
The Indian rupee opened stronger at 94.78 per dollar, while benchmark indices held near the 23,000 mark despite high global crude oil prices. Sentiment received a boost following statements from the United States indicating that a bilateral trade agreement with India is close to finalisation. US Secretary of State Marco Rubio also commended India's refining capacity, noting domestic capabilities to process heavy crude from Venezuela. In domestic corporate developments, State Bank of India confirmed a data breach affecting 3.75 lakh records found on the dark web, identifying 3,897 customer accounts with personal data exposure, though noting no material financial impact. Meanwhile, the mega initial public offering of Jio Platforms opened for public subscription with strong demand following heavy anchor book oversubscription. IT and banking stocks showed positive momentum in early trade, with market experts noting that equity earnings downgrades appear near a bottom.
US Secretary of State Marco Rubio has arrived in Mumbai on a two-day official visit to India. During his visit, Rubio is scheduled to travel to Jamnagar to tour the Reliance oil refinery, highlighting energy diplomacy. He will hold bilateral discussions with External Affairs Minister Dr S Jaishankar in Mumbai to review India-US relations, defence partnership, visa issues, and progress on a bilateral trade agreement. The visit serves as preparation for Prime Minister Narendra Modi's scheduled trip to the United States for the G20 Summit in December 2026. Rubio will also pay homage to the victims of the 26/11 terror attacks at the Taj Hotel and attend events marking the 250th anniversary celebrations of United States independence. Addressing media questions on energy and sanctions, Rubio noted that balancing foreign policy requires considering bilateral ties, global energy supplies, and trade deal negotiations, stating that efforts are underway to finalize a trade deal with India.
US Secretary of State Marco Rubio is arriving in India for high-level bilateral engagements focused on trade, investment, and energy cooperation. In Mumbai, Rubio is scheduled to hold talks with External Affairs Minister S Jaishankar, interact with business leaders, pay homage to the victims of the 26/11 terror attacks, and participate in an event marking 250 years of freedom. The second leg of his visit will take place in Jamnagar, home to Reliance Industries' oil refining complex, the largest in the world. The visit comes amid rising domestic energy pressures in the United States, where soaring diesel prices exceeding six dollars per gallon threaten to accelerate inflation ahead of key midterm elections. Washington is exploring diversified refined fuel supplies, including potential diesel shipments from India, while balancing its broader foreign policy objectives and energy stability.
The Business Today Show reviews volatile market activity as benchmark indices Sensex and Nifty rebounded from intraday lows following a severe sell-off. Key corporate developments, including declines in Tata Group shares following merger proposals and crude oil supply concerns, impacted market sentiment. The Supreme Court questioned excessive pricing of essential medicines at corporate hospitals, noting huge markups between retailer prices and bills presented to patients, seeking a uniform sixteen percent cap. Meanwhile, India explores alternative Westbound flight paths involving China and Bhutan to circumvent Pakistan's airspace ban. ONGC Videsh prepares to resume operations in Venezuela's San Cristobal field, subject to gazette notification. Market analysts Sharad Bassi and Dinshaw Irani provided perspectives on market valuations, crude movements, and investment strategies ahead of the festive season.
Addressing the United Nations General Assembly and marking the 250th anniversary of American independence, United States President Donald Trump detailed his administration's domestic and international policy agenda. Domestically, Trump highlighted United States economic metrics, poverty reduction, and border security enforcement. In foreign affairs, Trump reiterated that Iran will not be permitted to obtain a nuclear weapon, referencing military strikes on Iranian nuclear sites, the destruction of Iranian naval vessels, and United States naval escorts in the Strait of Hormuz. Trump reviewed the cessation of hostilities in Gaza, the release of hostages, and the formation of a multilateral Board of Peace backed by the United Nations Security Council. He outlined diplomatic mediation across international disputes, including India and Pakistan, Cambodia and Thailand, Kosovo and Serbia, the Democratic Republic of the Congo and Rwanda, Armenia and Azerbaijan, as well as ongoing negotiations between Russia and Ukraine. Additionally, Trump detailed United States military operations in Venezuela, the apprehension of Nicolás Maduro, and an agreement involving 65 billion barrels of oil. He announced an accord with Denmark regarding Greenland to construct two military bases for Arctic defense. On technological policy, Trump stated that the United States government will prioritize super intelligence over traditional artificial intelligence terminology. The address concluded with calls for United Nations structural reforms, spending reductions, opposition to international carbon taxation, and the rejection of International Criminal Court jurisdiction.
The US House of Representatives has passed legislation allowing President Donald Trump to impose tariffs of up to 100% on countries purchasing Russian oil and gas, sending the bill to Trump's desk. The proposed measures could directly affect India, where Russian crude accounted for 30.3% of oil imports in fiscal 2026, valued at nearly $41 billion. In July, Russia supplied more crude to India than the UAE, Saudi Arabia, Venezuela, Brazil, Oman, and the United States combined. New Delhi has stated it is monitoring developments while maintaining its focus on energy security. Sourcing replacement crude from alternative markets could result in changes to shipping distances, freight charges, insurance costs, and procurement prices. The development introduces fresh complexities into bilateral trade discussions between India and the United States, raising questions about potential tariff categories and broader strategic alignments amidst shifting global partnerships.
Prime Minister Narendra Modi, who addressed the Indian community on Thursday in Melbourne, said during Operation Sindoor explosions were taking place at terrorist hideouts, but their echoes were heard across the world.
Hours after stating the ceasefire was over, President Donald Trump has now warned Iran that the US will launch more strikes on Wednesday night.
The top focus of this episode of Super 6 is on the showdown over poaching politics in Tamil Nadu. In Tamil Nadu, TVK, DMK and the AIADMK – they are all pointing fingers at each other stating the other is poaching their MLAs.
This episode of Statecraft covers major geopolitical and national developments, beginning with Canada's historic intelligence shift. After four decades, the Canadian Security Intelligence Service publicly acknowledged that Canada-based Khalistani extremists orchestrated the Air India Flight 182 bombing in 1985, validating India's long-standing security concerns.
UN Commission of Inquiry has accused Israel of deliberately targeting Palestinian children in Gaza using sniper rifles and quadcopters, while Israeli officials reject the findings as propaganda.
A police investigation into the handling of donations at the Ayodhya temple has resulted in an FIR being filed against several individuals on charges including embezzlement and criminal conspiracy.
This news bulletin covers political and environmental developments across India and international sports. In Tamil Nadu, a legislative assembly clash over decorum and an actor's birthday post for the newly elected Chief Minister have sparked political controversy.
Politics has intensified over the MEA's clarification that a passport by itself isn't the conclusive proof of Indian citizenship.
The United States President addressed multiple geopolitical and domestic issues, highlighting a strong defence commitment to India. The administration pledged military assistance if India faces an attack, specifically noting support for the current Indian leadership.
The Trinamool Congress is facing an internal rebellion as multiple members of parliament have resigned and demanded the party chief choose between loyalists and general secretary Abhishek Banerjee.
