Politics

U.S. forces seize Maduro in Caracas raid

Monday 05 - 17:50

By: Dakir Madiha

U.S. forces seize Maduro in Caracas raid

Deposed Venezuelan President Nicolás Maduro appeared in a Manhattan federal court Monday afternoon, days after U.S. special forces yanked him from Caracas in a dawn military operation that sparked fierce international backlash and volatile global market reactions.

The 63-year-old leader, shackled and flanked by armed officers, faced Judge Alvin Hellerstein on charges including narcoterrorism conspiracy, cocaine importation, and weapons violations alongside his wife, Cilia Flores. The raid, codenamed "Absolute Resolution," unfolded early Saturday when over 150 U.S. aircraft struck Venezuelan military targets, paving the way for Delta Force commandos to grab Maduro from his fortified hideout.

Global markets delivered sharply divided responses to this unprecedented strike. Chinese oil stocks tumbled Monday on fears of restricted Venezuelan crude access: PetroChina down 3.3 percent, CNOOC off 3.5 percent, Sinopec slipping 2.1 percent in Hong Kong trading. China buys over 80 percent of Venezuela's crude exports.

Meanwhile, U.S. energy shares soared on prospects of tapping Venezuela's world-leading 303 billion-barrel reserves. Chevron the sole major U.S. oil firm still active there climbed as much as 10 percent premarket. ConocoPhillips rose 7 percent, Exxon Mobil gained 4 percent.

Defense stocks advanced in Europe and Asia, Germany's Rheinmetall up 7 percent, Japan's IHI Corp jumping nearly 10 percent. Tech-heavy Asian markets largely brushed off geopolitical worries, South Korea's Kospi and Taiwan's benchmark hitting records as semiconductor shares flew higher.

China issued a stern rebuke, calling the raid a "manifest use of force" that "severely violates international law," while Russia demanded an emergency UN Security Council meeting. President Trump said the U.S. would "run" Venezuela temporarily and deploy American firms to rebuild its oil infrastructure, though analysts warn it could take years and over 100 billion dollars in investment.

Oil prices held relatively steady amid the turmoil, Brent trading near 60 dollars per barrel. Venezuela pumps under 1 million barrels daily less than 1 percent of global supply curbing short-term impacts. Gold rose 2 percent to 4,430 dollars per ounce as investors sought safe havens.