Venezuela crisis deepens as US controls oil, gold and faces earthquake humanitarian demands

In early January 2026 the Trump administration launched a covert operation that abducted Venezuelan President Nicolás Maduro and his wife, seized control of Venezuela’s oil infrastructure and began exporting roughly 100 million barrels of Venezuelan crude – valued at about $8 billion – to the United States and other buyers. The U.S. has not disclosed how the revenues are managed, and Congress has called for an audit. An interim government led by former vice‑president Delcy Rodríguez was installed, keeping the Chavista political network in place.

At the same time, Britain’s Bank of England continues to hold 31 tonnes of Venezuelan gold (worth about $4.6 billion) in its vaults, citing U.S. sanctions as the reason for refusing to release the metal. Over 1,000 U.S. sanctions remain on Venezuela, severely restricting its economy and humanitarian access.

In late June 2026 twin earthquakes struck several Venezuelan cities, killing at least 188 people and injuring more than 1,500. The United States announced it was ready to provide humanitarian assistance, but critics argue the response is limited given the U.S. role in the underlying crisis. International bodies, including the FIR and the UN Secretary‑General, condemned the U.S. actions as violations of international law.

The combined picture is a deepening crisis in Venezuela involving foreign seizure of natural resources, ongoing sanctions, and urgent humanitarian needs following natural disaster.