Zohran Mamdani backs President Donald Trump over Venezuela attack or condemns military action? The question arose after New York Mayor Zohran Mamdani issued a statement following US military action in Venezuela and the capture of President Nicolás Maduro and his wife. Mamdani did not support the strikes. He called the action a violation of law and said his focus was the safety of New Yorkers.
Zohran Mamdani said he was briefed on the US military capture of Nicolás Maduro and his wife. He said they would be held in federal custody in New York. He said attacking a sovereign nation is an act of war. He said it violates federal and international law. He said regime change affects people in New York. He referred to Venezuelans living in the city. He said his administration would monitor the situation and issue guidance.
US media outlets CBS News and Fox News reported US strikes in Venezuela. AFP cited unnamed Trump administration officials who confirmed US involvement. President Donald Trump posted on Truth Social that US forces captured Nicolás Maduro and his wife. He said they were flown out of the country. He said the operation involved US law enforcement. He announced a press conference at Mar-a-Lago.
Trump later said the US caused a blackout in Caracas to carry out the operation. He said no US personnel were killed. He said no US equipment was damaged. He posted a photo of Maduro in handcuffs on a US Navy vessel, the USS Iwo Jima.
President Donald Trump said the United States would run Venezuela until a transition takes place. He said Maduro was indicted for narcoterrorism. He said US oil firms would enter Venezuela. He said the oil embargo would remain in effect. He said the US was ready for another wave of strikes if needed. He gave no details on the authority for running the country.
US Attorney General Pam Bondi said Maduro and his wife, Cilia Flores, would face charges in New York. She said they would face US courts. Maduro was indicted in 2020. His wife’s indictment was not known earlier.
After the US action, experts expect a gap-up opening for crude oil, gold, and silver. They said Venezuela’s economy is not large. They said the Indian stock market may remain stable. They said early buying may be limited.
Anuj Gupta of Ya Wealth told Mint geopolitical tension may raise prices. He said COMEX gold closed at $4,345.50 per ounce. He said gold may touch $4,380. He said silver may touch $75 and $78. He said Brent crude may touch $62 and $65.
Sandeep Pandey of Basav Capital told Mint sea routes used by Peru and Chad for silver exports face risk. He said this may support silver and gold prices.
Crude prices are near $60 per barrel. Venezuela holds major reserves. Exports remain limited due to sanctions. Reuters reported PDVSA production and refining were normal. Key facilities had no damage. The port of La Guaira suffered damage. It is not used for oil operations.
In December, Trump announced a blockade on oil tankers. The US seized two cargoes. Vessel owners diverted routes. PDVSA inventories rose. PDVSA slowed deliveries and stored oil to avoid output cuts.
Oil production fell to 192 million barrels in 2020. In 2021, output recovered to 5.5 lakh to 6.3 lakh barrels per day. In 2022 and 2023, output rose to 217 million and 264 million barrels. Sanction easing and swaps helped. In 2024, output reached 315 million barrels, about 8.5 lakh barrels per day. In 2025, daily production reached 1.14 million barrels per day.
Under Venezuela’s constitution, Vice President Delcy Rodriguez is next in line to succeed the president. She called for national unity and rejected foreign interference. She also spoke with Russian Foreign Minister Sergei Lavrov. Russia later said reports that she was in Moscow were false. Rodriguez appeared on state media asking for proof of life of Maduro and his wife.
Zohran Mamdani condemned the military action. He said it violated law and focused on safety of New Yorkers, including Venezuelans living in the city.
Experts expect short-term price moves in oil, gold, and silver due to tension, while Indian equities may stay stable due to Venezuela’s limited economic size.
Source Name : Economic Times