Donald Trump likes to start the new year with a bang – or better yet a series of loud bangs. On January 3, 2020, his first administration ordered the drone strike that killed Qasem Soleimani, the head of the Islamic Revolutionary Guard Corps-Quds Force. Exactly six years later, his second administration has carried out a large-scale regime-change operation in Venezuela, blowing several sites to smithereens and capturing the Venezuelan president Nicolas Maduro and his wife and flying them out of the country. This after a series of military strikes against Venezuelan and cartel targets in recent weeks and months. There had been strong rumours in Washington that Trump would order the operation in the run-up to Christmas. But he’s waited until the start of 2026 before pulling the trigger.

By changing the guard in Venezuela he has removed one of the last major oil-exporting administrations that........

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