The Econoclasts Venezuela special: Maduro, oil, and Trump’s next target
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Jan 7, 2026 Exploring the abduction of Nicolás Maduro, the hosts discuss how Trump's actions could legitimize international law breaches. They examine the potential revival of a Monroe Doctrine and ponder whether Greenland and Canada might face U.S. interests next. The debate over who benefits from Venezuelan oil raises questions about U.S. foreign policy motives. Additionally, the discussion transitions to how Trump's interventions could reflect his domestic political strategy, illustrating a shift towards a more transactional approach in international relations.
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The Abduction Revives Spheres Of Influence
- The Maduro abduction weakens Western moral authority and legitimises similar actions by Putin and Xi.
- Yanis Varoufakis warns it revives a sphere-of-influence era that benefits authoritarian powers.
Monroe Doctrine Swap Isn't New
- Fiona Hill recalled Russian offers to swap a 'Monroe doctrine for ours', showing long-term geostrategic bargaining.
- Yanis interprets this as Russia expecting tacit U.S. control over the Americas in exchange for freedom in its neighbourhood.
Venezuela Oil Splits Trump's Base
- Venezuelan oil access pits U.S. fracking interests against Big Oil and shapes Trump's dilemma.
- Wolfgang Munchau argues abundant Venezuelan supply could permanently depress oil prices and hurt shale voters in Texas.