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The Story

Drugs, oil and power: what Trump is doing with Venezuela

The Story

The Times

Investigative Reporting, Daily News, Current Affairs, Uk News, News, Politics, Global News, News Analysis, In-depth Journalism, Long-form Audio, Audio Storytelling, Exclusive Interviews, Daily News Podcast

3.91.6K Ratings

🗓️ 13 February 2026

⏱️ 35 minutes

🧾️ Download transcript

Summary

It’s almost six weeks since America launched military strikes against Venezuela and captured its President over claims the country was flooding the US with drugs and migrants. But was this ever actually the intention, or is Trump more interested in syphoning off the country’s oil? Why is the old regime still in power – and what is life like for locals?


This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.com/thestory


Guest:  Stephen Gibbs, contributor, Latin America and the Caribbean, The Times and The Sunday Times.

Host: Manveen Rana. 

Producers: Olivia Case and Harry Stott.

We want to hear from you - email: thestory@thetimes.com

Read more: Ally of Venezuela’s opposition leader ‘kidnapped’ hours after being freed

Further listening: Prince William walks a tightrope in Saudi Arabia

Clips:  The White House / X, BBC, NBC, CNBC, CBS / 60 Minutes, Sky News Australia.

Photo: Getty Images.

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Transcript

Click on a timestamp to play from that location

0:00.0

From The Times and the Sunday Times, this is the story.

0:06.0

I'm Manvine Rano.

0:09.6

It feels like a long time ago already, but 2026 began with a bang.

0:17.3

Last night on the order of the President of the United States,

0:20.5

and in support of a request from the Department of the President of the United States,

0:21.6

and in support of a request from the Department of Justice,

0:25.6

the United States military conducted an apprehension mission in Caracas, Venezuela,

0:31.6

to bring to justice two indicted persons, Nicholas and Cecilia Maduro.

0:42.9

Venezuelans woke up to the news that Donald Trump was now in charge.

0:50.1

So we are going to run the country until such time as we can do a safe, proper and judicious transition.

0:53.5

So what does that actually mean?

0:57.8

What does America running the country actually look like?

1:05.7

Well, this is a street in the heart of Caracas, just over a month since President Maduro was captured.

1:07.5

So what's changed?

1:10.6

That's Stephen Gibbs, our man in Venezuela.

1:13.6

He's been based in the region for over 20 years and covers Latin America, the Caribbean,

1:16.7

and increasingly President Trump's imperial ambitions

1:19.6

for the Times and the Sunday times.

1:22.8

Just in the first few days after that capture,

1:25.4

these streets and most of the city were completely empty.

1:29.0

People were frightened. There were these collectivos around these armed pro-government gangs.

1:36.5

So people were just staying at home, just nipping out to get their essential supplies.

...

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