The U.S. military's January 3, 2026, special operation in Venezuela, which captured President Nicolás Maduro and his wife for extradition to face U.S. charges, prompted a swift transition to an interim government under Delcy Rodríguez. Recent diplomatic progress has driven de-escalation, including a March 5 agreement to reestablish bilateral ties and the U.S. embassy's reopening in Caracas on March 30, alongside legislative reforms to attract investment in oil and infrastructure. Maduro's ongoing federal court hearings in Manhattan add uncertainty, but no new military escalations or troop deployments have materialized. Traders weigh stabilizing relations against potential instability in the interim regime or regional alliances, with key watchpoints including congressional votes on sanctions relief and foreign policy summits.