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The Journal.

Was Maduro's Capture About Oil?

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 5 January 2026

⏱️ 13 minutes

🧾️ Download transcript

Summary

For months, the U.S. sold its pressure campaign against Venezuela as a way to curtail drug trafficking. Now, after a surprise military operation on Saturday that led to the capture of President Nicolàs Maduro, U.S. oil companies have a path to regaining access to one of the world’s largest oil reserves. But WSJ’s Collin Eaton explains why getting companies to flock back to Venezuela will be a massive challenge. Ryan Knutson hosts. Further Listening: - Make Money Not War: Trump’s Plan for Peace in Ukraine - Why Is the U.S. Giving Billions to Argentina? Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

early Saturday morning, U.S. Special Forces captured Venezuela's president, Nicholas Maduro,

0:11.1

along with his wife, in a surprise military operation.

0:15.3

After months of buildup at 201 a.m. local time today in Caracas, Venezuela, U.S. Delta forces slipped into the home

0:23.5

of dictator Nicholas Maduro. U.S. President Donald Trump posted on Truth Social that Maduro

0:28.8

had been, along with his wife, captured and flown out of the country. This comes after weeks

0:34.2

of the U.S. ramping up pressure on the government of President Nicholas Maduro,

0:38.6

including seizing two oil tankers and conducting deadly military strikes on alleged drugboat smugglers.

0:46.0

The Trump administration has given several justifications for its actions against Maduro.

0:51.2

Now, Maduro is facing charges for drug and gun offenses.

0:55.5

For many years after his term as president of Venezuela, expired Maduro,

1:01.7

remained in power and waged a ceaseless campaign of violence, terror, and subversion

1:09.0

against the United States of America.

1:12.6

Through a translator in a New York court today,

1:15.3

Maduro declared his innocence and said he is still the president of Venezuela.

1:20.1

His wife also pleaded not guilty.

1:24.2

But Trump said there was also another motivation for all this.

1:28.2

Oil. Here he is yesterday motivation for all this. Oil.

1:29.6

Here he is yesterday on Air Force One.

1:31.7

Total access.

1:33.4

We need total access.

1:35.0

We need access to the oil and to other things.

1:38.9

Ultimately, he said something that wasn't done.

...

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