Welcome to the New Venezuela: How the US Is Reshaping Its Old Foe

Since President Nicolás Maduro was captured by US forces and ousted from office on Jan. 3, Venezuela has entered a fast-changing and uncertain phase shaped heavily by Washington. Relations between the US and Venezuela have shifted from isolation to direct engagement: The Trump administration has restored diplomatic ties and is working with interim President Delcy Rodríguez. But that relationship is highly conditional. The US is using sanctions relief, access to global finance and control over oil revenues as leverage to steer policy and shape what comes next.

For ordinary Venezuelans, meanwhile, the impact of the regime change has been limited. Most still face high prices, weak incomes and deteriorating living conditions.