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Venezuela and the Return of Gunboat Monetary Politics.

by NewsDen Publishers
January 5, 2026
in OPINION, POLITICS
0
Venezuela and the Return of Gunboat Monetary Politics.
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The January 3 invasion of Venezuela by the United States marks one of the most consequential—and troubling—events in contemporary international relations. It is not merely the dramatic capture of a sitting president, nor is it simply another intervention justified by the familiar vocabulary of drugs, terrorism, or democracy. It is, more profoundly, a signal moment in the unravelling of the post-1945 global order.

Stripped of rhetoric, the invasion was unlawful under international law. The United Nations Charter permits the use of force only in self-defence or pursuant to Security Council authorisation. Neither condition applied. Venezuela did not attack the United States, nor did the Security Council sanction military action. Allegations of “narco-terrorism,” however sensational, do not confer a licence for regime capture. To suggest otherwise is to replace law with power and precedent with convenience.

Equally troubling is the violation of sovereign immunity. Customary international law grants sitting heads of state absolute personal immunity from arrest by foreign powers. Even international criminal tribunals proceed only through consent or multilateral mandate. The seizure of Venezuela’s president therefore represents a sharp break from established legal norms—a reminder that when great powers feel threatened, law becomes negotiable.

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Yet legality alone does not explain the invasion. To understand its deeper logic, one must situate it within the political economy of power and the realities of a world in transition.

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Venezuela is not just another troubled state. It sits atop the largest proven oil reserves on earth. Over the past decade, it has also sought deeper economic and financial integration with non-Western powers, explored non-dollar trade mechanisms, and aligned itself politically with countries openly challenging U.S. dominance. No single one of these actions is extraordinary. Taken together, however, they place Venezuela at the intersection of resource control, geopolitical rivalry, and monetary anxiety.

This is where the invasion must be properly located—not as a crusade for democracy, but as a system-defensive act by a hegemon under strain.

For half a century, global economic life has revolved around an international financial architecture anchored on the U.S. dollar. That system was sustained not only by trust and productivity, but also by power—by rules enforced as much as they were agreed. Today, alternative payment systems, currency arrangements, and geopolitical blocs are emerging. The world is no longer unipolar, even if it is not yet fully multipolar.

In such moments, history teaches us that dominant powers shift from leadership to enforcement. Persuasion gives way to coercion. Compliance matters more than consent. The invasion of Venezuela fits this pattern. It was not about territorial conquest, but about discipline—about reminding states, especially resource-rich ones, of the costs of defiance.

The choice of narrative is revealing. The “war on drugs” explanation mirrors past interventions in Panama, Iraq, and elsewhere. It serves domestic political needs and offers moral cover, but it convinces few outside Washington. Countries across the Global South understand the message being sent, even if it is never formally articulated: strategic autonomy without insulation is dangerous.

Ironically, this message may prove counterproductive. Rather than arresting global realignments, such actions are likely to accelerate them. When the use of force becomes a tool for maintaining economic arrangements, confidence in those arrangements erodes. Coercion may compel short-term obedience, but it breeds long-term resistance.

For Nigeria and other African states, the implications are sobering. We, too, are resource states. We, too, have histories of external economic entanglement. And we, too, rely on an international legal order that protects weaker states from unilateral power. Silence in the face of such precedents is not neutrality; it is vulnerability.

Nigeria’s interest lies in principled consistency: respect for sovereignty, commitment to multilateralism, and strategic non-alignment in an increasingly divided world. This does not require hostility to the United States, but it does require clarity about where our long-term security truly lies.

The invasion of Venezuela does not mean the immediate collapse of the existing global system. But it does confirm something profound: that the system now depends more on force than legitimacy. History is unforgiving on this point. When power must increasingly be enforced at gunpoint, decline may not be imminent—but it has unmistakably begun.

The world is watching. And it is recalibrating.

The writer, Frank Odion Apokwu DSC, LLB, FNIM, FSM, FIMC, CMC, is a Management Consultant Public Affairs Analyst Commentator Democratic Reforms and Inclusive Development Advocate. He writes from Asaba, Nigeria.

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