Hold Your Fire!31 Loka 2025

Drug War or Regime Change? Trump’s Venezuela and Western Hemisphere Policy

This week on Hold Your Fire!, Richard talks with Crisis Group experts Phil Gunson and Renata Segura about U.S. military build-up off Venezuela’s coast, strikes on alleged drug smuggling boats and whether Washington could depose Venezuelan President Nicolás Maduro.

In this episode of Hold Your Fire!, Richard speaks with Crisis Group’s Venezuela and Andes expert Phil Gunson and Latin America & Caribbean director Renata Segura about the escalating tensions between the U.S. and Venezuela. They assess the large-scale military build-up off Venezuela’s coast, officially framed as a counter-narcotics operation but widely seen as part of a broader campaign to pressure Venezuelan President Nicolás Maduro. They unpack U.S. strikes on suspected drug smuggling boats and how effective such measures are in curbing the narcotics trade. They talk about the evolution of U.S. policy toward Venezuela, divisions within Donald Trump’s team over policy and how Venezuelans view the latest escalation. They look at the role of Venezuela’s military and armed groups and how they might respond to foreign intervention. Finally, they consider Washington’s next steps and assess Trump’s approach to the Western hemisphere more broadly and how Latin American leaders view his policies.

Click here to listen on Apple Podcasts or Spotify.

For more, check out our statement “Beware the Slide Toward Regime Change in Venezuela” and our Latin America & Caribbean regional page.

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