Special Episode: What Next for Venezuela?

This week, in a special episode of Hold Your Fire!, Richard is joined by Crisis Group’s Caracas-based senior Andes region analyst Phil Gunson to unpack the U.S. military operation in Venezuela that led to the capture of President Nicolás Maduro and to assess what may come next. They examine how the operation unfolded, how it was experienced inside Venezuela, and the government’s initial response. They discuss Vice President Delcy Rodríguez’s assumption of power and whether Washington may be willing to work with a Maduro-less but still Chavista government to secure oil concessions rather than pursue full regime change. They talk about what Trump meant when he said the U.S. would “run” Venezuela. They also explore the weakened state of the opposition, the role of the military and armed groups, regional reactions, and the prospects for resolving Venezuela’s political crisis. Hosted on Acast. See acast.com/privacy for more information.

You can listen to Special Episode: What Next for Venezuela? online on Radio and Podcast. Open the player on this page to stream the available audio.

Special Episode: What Next for Venezuela? is an episode from Hold Your Fire! by International Crisis Group.

This episode is 29:53 long.

This episode was published on Jan 5, 2026.

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