Tensions are escalating once again in Latin America. The United States is positioning warships and troops in the Caribbean Sea near Venezuela under the pretext of combating drug cartels. The mobilization of thousands of troops, despite the absence of direct threats from the government regarding attacks on Latin American territories, has raised suspicions. Although analysts consider a US attack on Venezuela unlikely, a recent US operation against a drug cartel vessel has heightened tensions.
The primary aim appears to be gaining control over Venezuela's significant oil reserves. The US has sought to exert influence over Venezuela, regarded as a challenge in the region, through various means since the time of Hugo Chávez.
Trump Targeted Venezuela
With Donald Trump's return to the presidency, there seems to be a revitalized effort in this direction. The US is reportedly attempting to displace the current leader, Nicolás Maduro, and replace him with a more favourable government, even if that entails removing Maduro from power.
President Trump has claimed that drug gangs in Latin America are providing substantial amounts of narcotics to the US, which he contends are leading American youth into peril. In response, Maduro has proposed to manage these gangs and has invited the US to engage in discussions about the issue, though this invitation has gone unanswered.
Since taking office in January, Trump has maintained a hard-line approach towards Latin American nations accused of drug trafficking. He has alleged that President Maduro is complicit in the drug trade originating from Venezuela. The White House even announced a reward of $50 million for information leading to Maduro's capture.
In a recent development, the US targeted a Venezuelan vessel in the Caribbean, resulting in the deaths of 11 individuals. In retaliation, Maduro dispatched his fighter jets near the US warships, which led to displeasure from Trump. The US subsequently deployed eight warships to the southern Caribbean.
Largest Oil Reserves
Venezuela possesses the largest oil reserves globally, with an estimated 48,000 million tonnes discovered in 2021, exceeding Saudi Arabia's reserves and representing 17% of the world's total. However, Venezuela's presence in the global oil market is minimal, accounting for only 0.8% due to sanctions from the US and European nations, which have severely impacted the country's economy.
When Trump first assumed office, he expressed intentions to take control of Venezuela's oil and sought to replace the Maduro administration. In a 2023 speech, he reflected on the situation, stating, "When I left office, Venezuela was ready to collapse. We would have taken it over; we would have taken all of their oil. Now, we’re buying oil from them."
Tensions in Caribbean
The US has dispatched warships such as the US San Antonio, US Iwo Jima, and US Fort Lauderdale, along with 4,500 troops to the Caribbean. Additionally, 10 F-35 fighter jets and numerous P-8 surveillance aircraft have been deployed to Puerto Rico.
In comparison to the US, Venezuela is relatively small, with a population of approximately 31.5 million. Its military comprises around 123,000 personnel and possesses 229 warplanes, including 30 fighter jets. The US, noted for having the largest military arsenal globally, has around 13,000 aircraft. Although Venezuela has established close relations with China and Russia, their geographical distance raises uncertainties regarding their potential support for Venezuela.
