US -Venezuela conflict: The United States has taken Venezuelan President Nicolás Maduro into custody following a major military strike on the South American nation, according to US President Donald Trump.

US media reports say Maduro and his wife, First Lady Cilia Flores, are being held at Brooklyn’s Metropolitan Detention Center after being flown to a New York air base. Both face charges related to drug trafficking and weapons offences.

Trump, who posted an image of a blindfolded Maduro aboard the USS Iwo Jima, described the action as a military operation conducted in coordination with US law enforcement agencies.

Meanwhile, multiple explosions were reported in Caracas in the early hours of Saturday, including blasts near military installations.

Drug trafficking to Narco terrorism – here’s why the US attacked Venezuela

Maduro has been charged along with his wife, his son, and three other individuals. The indictment lists four charges against him: conspiracy to commit narco-terrorism, conspiracy to import cocaine, possession of machine guns and destructive devices, and conspiracy to possess machine guns and destructive devices.

He is facing the same allegations as those included in a 2020 indictment filed in Manhattan federal court during the first Trump administration. The latest indictment, unsealed on Saturday and expanding the case to include charges against his wife, had been submitted under seal in the Southern District of New York shortly before Christmas.

The indictment alleges that Maduro partnered with ‘some of the world’s most violent and prolific drug traffickers and narco-terrorist groups’ to facilitate the movement of thousands of tonnes of cocaine into the United States.

US Authorities claim that major and brutal drug-trafficking organizations, including the Sinaloa Cartel and the Tren de Aragua gang, worked in coordination with the Venezuelan government, funnelling proceeds to senior officials who, in return, provided protection and support.

According to the indictment, US authorities also claim that Maduro and his family offered protection from law enforcement and logistical assistance to drug cartels, enabling the trafficking of up to 250 tons of cocaine through Venezuela each year by 2020. The filing states that the drugs were transported using go-fast boats, fishing vessels, container ships, and aircraft operating from covert airstrips.

Trump says US will run the country

US President Donald Trump said in a press conference at his Mar-a-Lago resort in Florida that the US will run the country. “We will run the country until such time as we can do a safe, proper and judicious transition,” Trump was quoted as saying by Reuters.

Some legal experts questioned the legality of an operation aimed at capturing the leader of a foreign nation, while Democrats, claiming they were misinformed during recent congressional briefings, called for clarity on the next steps.

“President Trump does not have the constitutional authority to attack another country. When 60% of Americans are living paycheck to paycheck, he should focus on the crises at home, end his illegal military adventurism and stop trying to ‘run’ Venezuela for Big Oil,” posted US Senator Bernie Sanders on X.

Trump said the takeover would involve major U.S. oil companies re-entering Venezuela to rehabilitate its severely deteriorated oil infrastructure, a task experts noted could take several years.

He also said he was willing to deploy U.S. troops to Venezuela, adding, “We’re not afraid to put boots on the ground.”

It remains uncertain how Trump intends to exert influence over Venezuela. The U.S. has no direct control on the ground, and the Maduro administration not only continues to hold power but also shows little willingness to engage with Washington.

Market experts think otherwise

According to market experts, the real reason behind the attack is to ensure safety of the petro dollar regime.

“The Venezuela government under the President Hugo Chávez had started to challenge this age old regime, which was not going down well for the US administration. Trump’s statement to control the oil reserves of Venezuela justifies this,” said Sandeep Pandey, Co-founder of Basav Capital.

Experts were quoted as saying by ANI that the US strike on Venezuela is unlikely to have a major effect on global oil prices, as the country’s crude output remains relatively small at about 1 million barrels per day, accounting for roughly 1% of global supply. Oil prices edged lower on Saturday, with West Texas Crude slipping to $57.32 per barrel from nearly $80 in January.

The US has also bolstered its Strategic Petroleum Reserve and stepped up domestic oil production, helping to buffer global markets from potential volatility.

Going forward, the impact will hinge on political developments in Venezuela and Washington’s next moves. Should the US permit American firms to invest in Venezuela’s oil sector, production could rise over time, potentially influencing global oil markets in the longer term.

In recent remarks, Trump stated that Venezuela had “taken away our oil rights” years ago during the nationalisation of foreign assets, signalling an intent to reassert US corporate control over these reserves.

Meanwhile, Anuj Gupta, Director of Ya Wealth, believes that the US attack on Venezuela is expected to trigger geopolitical tension in the region, which is expected to fuel the uncertainty.

“Hence, I expect a gap-up opening for gold, silver, copper, crude oil, gasoline, and other commodities. So, when the market reopens on Monday, Brent Crude oil price is expected to touch $62 and $65 per barrel,” Gupta said.

(With inputs from agencies)