Venezuela is a South American nation rich in natural resources, especially some of the world’s largest proven oil reserves and other minerals.
Its economy has faced severe contraction, hyperinflation and persistent unemployment, partly due to long-term reliance on oil, domestic policy challenges, and international sanctions that have restricted trade and foreign investment. Agriculture and forestry contribute to the economy alongside oil, although economic output has remained weak in recent years.
The country has been mired in social and political turmoil for much of the past decade, with widespread protests and international criticism over governance, elections, and human rights.
In a dramatic escalation, the United States carried out airstrikes and a military operation in Venezuela in early January 2026 that resulted in the capture of President Nicolás Maduro and his wife and their transfer to U.S. custody, according to US officials.
This has sparked widespread global reaction, with Venezuela’s government rejecting the attacks as aggression and demanding proof of life, while the U.S. claims the move is tied to criminal indictments and regional security concerns.
This incident has created a constitutional and diplomatic crisis, with Vice President Delcy Rodríguez asserting leadership, the UN Security Council expected to meet, and countries around the world expressing divergent views on sovereignty, law, and stability.
In an exclusive interview with India Today, Dmitry Peskov, spokesperson for the Kremlin and Press Secretary to President Putin, clarified that Russia is not a participant in the war but condemned the aggression against Iran, emphasising the need to restore international law.
As tensions escalate in West Asia, the United States has deployed 10,000 additional troops to enforce a naval blockade in the Gulf of Oman.
The United States has intensified its naval blockade in the Gulf of Oman, forcing a sanctioned Chinese tanker to make a U-turn after it attempted to exit the Strait of Hormuz.
US President Donald Trump announced that the biggest bridge in Iran has been destroyed by American forces, calling it part of Operation Epic Fury.
US President Donald Trump said that the core strategic objectives of Washington have been achieved as the US military has destroyed the Iranian Navy and air force, along with killing all the top leaders of Iran's Islamic regime.
Amid the escalating West Asia crisis, US President Donald Trump announced a five-day pause in military action against Iran, citing what he called "very good and productive conversations" and the "real possibility" of a deal.
Indian equity markets have experienced a significant downturn as the West Asia conflict enters its tenth day. The Sensex crashed 1,353 points to 77,566, while the Nifty fell 422 points to the 24,000 level, marking a 4.58 percent decline since the hostilities began. This volatility has resulted in the loss of lakhs of crores in investor wealth. Brent crude prices surged to $119.50 per barrel following a 28 percent rally, driven by disruptions in the Strait of Hormuz. External Affairs Minister S. Jaishankar emphasized the region's importance for India's energy security and the safety of 10 million Indian expatriates. Global energy markets report a 26 percent jump in Russian Ural crude as China increases stockpiles. India maintains 74 days of oil reserves, while Japan utilises its 300-day supply. Market uncertainty is further compounded by shadow market activities involving Russian, Venezuelan, and Iranian crude. Additionally, regional tensions have prompted some Dubai residents to relocate following reported drone strikes near Palm Jumeirah.
In an exclusive interview with India Today TV, geopolitical expert Ian Bremmer said Iran is clearly losing militarily, with its Navy destroyed, air defences non-existent, and leadership decapitated by Israeli strikes. However, he argued the United States is not achieving its objectives the way President Donald Trump expected.
As the West Asia conflict enters its seventh day, US President Donald Trump announced plans to target Cuba following the conclusion of the war in Iran.
In an exclusive interview with India Today, Mehdi Hasan, Editor-in-Chief and CEO of Zeteo News, criticised the ongoing US-Israel military campaign against Iran as 'a completely unnecessary, unprovoked war of aggression'.
In an exclusive interview with India Today, Brazilian President Luiz Inacio Lula da Silva outlined his agenda for the Brazil-India relationship, multipolar global order, emphasising the role of the Global South and the Brics alliance.
In an exclusive interview with India Today TV, Brazilian President Luiz Inácio Lula da Silva spoke about ties with India, AI Summit, his equations with US President Trump and on a wide range of issues.
The India-US trade deal is turning into a political flashpoint. The interim agreement has triggered concerns among opposition parties, farmer groups and foreign policy experts after more details emerged over the weekend.
Commerce and Industry Minister Piyush Goyal said on Thursday that India and the US are expected to finalise and sign a joint statement on the first tranche of the bilateral trade agreement within 4-5 days.
The top focus of this episode of India First is Prime Minister Narendra Modi's scathing attack on the Congress in Rajya Sabha on Thursday.
In an exclusive interview with India Today, Professor Jeffrey Sachs, Director of the Center for Sustainable Development at Columbia University, hailed Prime Minister Modi's handling of the India-US trade deal.
This special report examines the landmark India-US trade agreement following US President Donald Trump's announcement to reduce tariffs on Indian goods from 50% to 18%. Gaurav Sawant and former Ambassador Taranjit Singh Sandhu analyze the strategic implications of this deal, which targets a $500 billion bilateral trade volume. Union Commerce Minister Piyush Goyal confirms that the agreement protects India's agriculture and dairy sectors despite global economic pressures. The report highlights India's role in the global supply chain and its focus on competitive parity for textiles, leather, and gems. Addressing the NDA parliamentary party, Prime Minister Narendra Modi noted the shifting global order in India's favor. Additionally, the program addresses India's continued purchase of Russian oil for national energy security. Experts, including Mark Linscott and Ambassador Arun Kumar Singh, discuss the diplomatic significance of these developments. The broadcast also covers the escalating conflict in Balochistan, where Pakistan's Defense Minister Khwaja Asif admitted military challenges against local fighters.
US President Donald Trump said on Monday that India and the US have agreed to a trade deal under which Washington will bring down reciprocal tariffs on Indian goods to 18 per cent from the current 25 per cent.
US President Donald Trump on Monday announced that he would reduce reciprocal tariffs from 25 per cent to 18 per cent.
On this India Today special, veteran journalist Rajdeep Sardesai reflects on the evolution of the Union Budget in India, tracing his experience back to 1994. Recalling his early days at NDTV, Sardesai notes, 'In 1994, I was at NDTV when we were commissioned to do the post-budget reactions' outside the BSE. He highlights how the post-1991 era brought a unique excitement to budget announcements that persists today, despite the process becoming more 'mundane' following major tax reforms. The discussion covers the shift from high-stakes policy changes to the current market preference for stability and the absence of 'retrospective tax bombshells'. Sardesai also addresses the impact of global geopolitics on the Indian economy, questioning the influence of external leaders on India's sovereign energy decisions, specifically regarding oil imports from Venezuela and Iran. The panel further examines the feasibility of the government's disinvestment targets and the long-term roadmap for defense allocations in the upcoming budget by Nirmala Sitharaman.
