With so much attention on U.S. involvement in Iran, American policy in Venezuela has faded into the background. But the January military operation that captured Nicolás Maduro and elevated his vice president has reshaped the region in ways worth a closer look.

The partisan narratives that followed were predictable: The Trump administration claimed near-total success, Democrats argued it was in over its head. As usual, the truth sits somewhere in between.

The administration's approach has achieved a limited but real objective – a regime more accommodating to U.S. interests. But by leaving that regime in place, Washington has also left Caracas' underlying political structure largely intact. That's a choice that could create problems down the road.

Venezuela has improved without Maduro

Since Maduro’s capture, Venezuela has been led by his vice president, Delcy Rodríguez. She has proved notably more receptive to........

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