U.S. forces arrested Venezuelan President Nicolas Maduro on drug trafficking charges over the weekend. President Trump declared the U.S. would run Venezuela and seize its nationalized oil reserves. The move dramatically increases U.S. control of global oil.
Trump invoked a version of the Monroe Doctrine to justify the action. Deadly strikes preceded the arrest, targeting Venezuelan boats allegedly carrying drugs. These attacks have been widely condemned as illegal.
The UN Secretary General António Guterres denounced Trump's actions. He cited a violation of the UN charter. International condemnation is expected to grow.
Venezuela holds the world's largest oil reserves. Its oil production peaked in the 1970s. Output has since declined significantly due to political and economic instability.
The U.S. faces a potential $100 billion rebuilding effort. The future of Venezuela's oil industry remains uncertain. The international community awaits further developments.
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