CARACAS — The country that in 2008 heard then-President Hugo Chávez say , “Go to hell, damn Yankees,” as he expelled the U.S. ambassador, today watches hundreds of U.S. soldiers patrol the streets of La Guaira, which was devastated by the two earthquakes a month ago. The soldiers distribute meager humanitarian aid in small boxes bearing U.S. flag stickers while filming for publicity spots .
The U.S. has promised $386 million to help Venezuela recover, but it and its allies continue to hold more than $22 billion in frozen Venezuelan assets. Washington’s actions demonstrate, once again, that its priority is oil, not the well-being of Venezuelans. Meanwhile, U.S. real estate developers are also visiting La Guaira, treating the devastation as yet another business opportunity.
Entire neighborhoods lie in ruins, including Punta de Mulatos in La Guaira, where 82-year old Erminia Hernández lives. She was born in La Guaira, the coastal gateway to Venezuela that hosts the country’s main airport, and where residents of nearby Caracas go to sunbathe. She says she remembers the many tragedies that have struck this area, having lived through the 1967 earthquake, the Vargas mudslide in 1999, and the COVID-19 pandemic. However, she doesn’t remember anything as devastating as the double earthquakes of June 24.
Erminia Hernández, an earthquake survivor in La Guaira, Venezuela, on July 12, 2026. (Jessica Dos Santos Jardim)
The 1967 quake stopped her as she was making majarete, a typical Caribbean dessert, she says. But last month’s earthquakes knocked her and her sister flat to the ground, face down in the hallway of their house, where she then knelt to pray as everything rocked violently. She says she does not remember who helped her stand up, but she is certain she will never forget the moment she thought she was about to die.
“The 1967 earthquake was nothing compared to this,” Hernández tells Truthdig. “And during the mudslide, I only heard about one neighbor who died. But now, every day I learn about someone I know who has died or is missing. In my immediate family alone, we lost six people, and two more are hospitalized.”
She is right. In 1967, fewer than 300 people died. After the mudslide, some sources put the death toll at 700 , with thousands more missing. The coronavirus claimed 5,856 lives across the entire country over several years. But these earthquakes have killed more than 5,270 people, left 16,700 injured and 18,000 displaced. The numbers rise daily. The government puts the number of rescued at 7,000 but does not mention how many are still missing.
Jofram Gallipoli, his wife Oriana and their 4-year-old son Luciano were among those rescued. Seven floors collapsed on top of them in the Tanaguarenas neighborhood of La Guaira. They are alive today because Jofram’s father, José Alberto Gallipoli, owns a hardware store in Caracas, where he gathered crowbars, chisels, picks, a cordless drill, hacksaws and gloves so that relatives, friends, neighbors and police officers — none of them equipped with specialized rescue machinery — could dig a tunnel through the rubble.
During the 27 hours that the rescue took, Jofram Gallipoli tells Truthdig he communicated with the outside by banging an air conditioning grate with a ceramic tile every time he heard his name.
Jofram Gallipoli, who was rescued along with his wife and child after their building in the Tanaguarenas neighborhood of La Guaira collapsed in the June earthquakes, on July 18, 2026. (Jessica Dos Santos Jardim)
“When we were under the rubble, we thought only our building had collapsed. Coming out was a shock. We lost all our material possessions, but we are alive, and I, who have emigrated before, want to stay here this time,” Jofram Gallipoli says.
According to official figures, nearly 200 buildings collapsed entirely and at least 900 were severely damaged. Structural engineers are now conducting inspections on thousands of homes in the seven states affected by the earthquakes. For Jofram’s father, “the physical structures fell, but we, the true architects of life, are ready to rebuild, from scratch, on a stronger foundation.”
José Alberto’s words are hopeful, but how much will this reconstruction actually cost? How will we carry it out? What intentions lie behind much of the “humanitarian aid” that countries like the U.S. are sending?
What is needed now
Preliminary assessments from the U.N. Development Program estimate direct physical damages at $6.7 billion , a figure that focuses on housing and does not include the full extent of infrastructure damage or the cost of long-term reconstruction.
The U.N. Office for Disaster Risk Reduction, meanwhile, puts the full reconstruction cost at $37 billion : $24 billion for lost buildings — homes, schools, stores and hospitals — and $13 billion for damage to critical infrastructure such as roads and power grids. That represents nearly one-third of Venezuela’s current gross domestic product .
“We … control the dispersal of the money.”
For now, however, the country that has promised the most economic “aid” to Venezuela is the United States, with its much-publicized $386 million .
But if the Trump administration released the Venezuelan funds it continues to block via sanctions , the country would not need these handouts: 31 tons of gold — valued at roughly $4.2 billion — remain frozen in London. The international financial system, including private banks and multilateral organizations, has blocked more than $22 billion in Venezuelan assets. At the same time, Venezuelan oil revenue is now deposited into an account at the U.S. Treasury. “We … control the dispersal of the money,” U.S. Secretary of State Marco Rubio said in January.
Washington’s double standards
One day after the double earthquake, the U.S. Treasury Department’s Office of Foreign Assets Control issued General License 60, which authorizes transactions related to humanitarian assistance in Venezuela but does not include the unfreezing of assets subject to sanctions or “any other transactions or activities prohibited by any other Executive Order.”
The United States acts this way because the architecture of punitive sanctions against Venezuela is the “legal foundation” for control over the Venezuelan oil industry, says William Serafino, a political scientist from the Central University of Venezuela. In 2017, the Trump administration imposed sanctions on Venezuela that prohibited access to U.S. financial markets, and in 2018, expanded them to block purchasing of Venezuelan debt.
“With the issuance of licenses, Washington is able to modify certain aspects of its economic and financial coercion policy, always in the interest of U.S. companies, but without altering the overall sanctions framework,” Serafino tells Truthdig. “The sanctions are what guarantees U.S. appropriation of Venezuelan resources at a clear disadvantage to Venezuela.”
People search for survivors and bodies in the Playa Lido neighborhood of La Guaira, Venezuela, on July 12, 2026. (Jessica Dos Santos Jardim)
These licenses are official documents issued by the U.S. Office of Foreign Assets Control that allow American individuals and companies, or those with U.S. ties, to carry out very specific and limited transactions with the Venezuelan state or the state oil company PDVSA.
Serafino says that such exemptions and the small amount of funds provided after the earthquakes are intended to “whitewash this illegal sanctions policy” in order to undermine the broad consensus across Venezuelan society in favor of lifting all measures that hinder the normal development of Venezuela’s economy.
The U.S. has similarly just provided $100 million in aid to Cuba, after sanctioning the country since 1962. United Nations Secretary-General Antonio Guterres says the sanctions violate international law — which U.N. human rights experts say could also be true of the Venezuela sanctions . U.N. human rights experts describe the latest trade tariffs that block oil from getting to Cuba as “an extreme form of unilateral economic coercion” that violates self determination.
Venezuelans aren’t the only ones rejecting the U.S. sanctions against their country. After the earthquakes, 13 prominent economists, including Isabella Weber, Jeffrey Sachs and James K. Galbraith, signed a letter calling for the lifting of sanctions. Likewise, the U.N.’s humanitarian chief, Tom Fletcher, warned that such coercive measures directly affect the delivery of aid and recovery plans.
“The sanctions are what guarantees U.S. appropriation of Venezuelan resources.”
“Fletcher’s statement shows that temporary exemptions are insufficient,” Serafino says, “Financial institutions, even when they theoretically have ‘permission’ from the Treasury Department to operate, are very cautious about expediting transactions related to supplies, donations and the transfer of aid funds between multilateral institutions and humanitarian organizations, due to fear of penalties and fines.”
Transactions that under normal circumstances “would take a few days,” he says, are subjected to a bureaucratic morass because of the sanctions, because “banks must constantly consult their legal departments and steer clear of red lines.”
At the same time, the United States is also using the tragedy to ramp up its military intervention in Venezuela through a “humanitarian support” operation coordinated by the U.S. Southern Command and the State Department, under the Department of Defense. That has included moving the warships USS Fort Lauderdale and USS Billings toward the coast of La Guaira, flying helicopters over devastated areas and deploying surveillance drones such as the MQ-9 Reaper.
“It is extremely serious that, taking advantage of a tragedy and under the pretext of humanitarian aid, the United States has not only taken over the country’s main airport and seaport but also deployed 900 Marines in La Guaira and 2,000 across the entire operation,” former Vice President Elias Jaua, who also held multiple Cabinet posts during the Chavez government, tells Truthdig.
“Moreover, we have seen the mapping they have done of the entire Venezuelan coastline with drones and helicopters. This is another escalation in the military occupation,” he says, adding that the deployment also imposes strict military monitoring and de facto control over Venezuela’s skies and coastline from U.S. bases in Puerto Rico, Panama and Trinidad and Tobago.
Jaua, who now works as a university professor, says the measures openly violate Article 13 of Venezuela’s Constitution, which bars foreign military bases or installations with military purposes by any country or coalition of countries in Venezuelan maritime, air and land territory.
Asked what will happen to the U.S. military presence in Venezuelan territory once the emergency ends, Jaua only comments that “a civic, political and grassroots movement must be built to defend Venezuela’s right to remain a republic. Otherwise, it will end up as a North American [i.e. U.S.] colony annexed to the United States or a protectorate administered from the north.”
“It seems like an unnecessary and politically contentious measure.”
Serafino, on the other hand, questions why Washington would want to flood Venezuela with Marines and other military forces when it has already managed to gain control over the country’s resources without a large and sustained presence since Jan. 3, when it launched airstrikes on the country and seized the president.
“It seems like an unnecessary and politically contentious measure, especially with U.S. midterm elections around the corner and a strong chance [President Donald] Trump could lose them,” Serafino says.
“I think the military presence will be limited to solidifying U.S. influence over oil and other strategic resources, mapping migration flows from the air and conducting permanent flyovers and naval patrols to signal to Russia and China that both Venezuela and the Caribbean Basin fall under Trump’s purview.”
Economic interests
But U.S. interests in Venezuela go beyond the military. Global Empowerment Mission (GEM), a company led by Miami luxury homebuilder Michael Capponi, along with other real estate developers and a network of corporate interests with ties to Trump, are already seeing the earthquakes’ devastation as a business opportunity.
While the State Department has announced that it is working with U.S. corporations including Walmart and Amazon to bolster the “humanitarian” response in Venezuela, Serafino views GEM’s presence as more important and “pervasive.” He does not rule out that Pentagon-affiliated contractors could become involved in projects to refurbish Maiquetia International Airport, the Port of La Guaira and the management of shelters.
A collapsed building in La Guaira, Venezuela, on July 12, 2026. (Jessica Dos Santos Jardim)
Recent precedents such as Iraq after the 2003 U.S. invasion and Haiti after the 2010 earthquake saw Beltway contractors — defense, technology and consulting firms based in Washington, D.C. — securing big business opportunities. In Iraq, they obtained lucrative reconstruction contracts. In Haiti, the pattern repeated through the privatization of security, logistics management and international aid programs.
This aligns with complaints from social activists in La Guaira including José Félix Valera, who tells Truthdig that some contractors, mainly U.S. ones, are already demolishing and clearing land where people are still trying to recover the bodies of their relatives.
“There have been serious confrontations because people want to recover the bodies,” Valera says. “I saw people stop a building from being demolished, and three days later they found a young man alive. Still, the contractors with machinery take advantage of the early morning hours to demolish.”
“The U.S. is also interested in the real estate possibilities.”
While a desire to rebuild quickly is understandable, Valera, who apart from his activism is also a leader at community radio station Voces in La Guaira, believes other interests are at play. The demolishing is taking place at “the largest flat plots [of land] facing the Caribbean Sea in the region, and that has a lot of implications from a geopolitical standpoint but also for tourism,” he says. “For example, this is one of the best places for international events like Grand Slam tournaments or deep-sea fishing.”
“But the U.S. is also interested in the real estate possibilities,” he says.
Valera also wonders why there are so many U.S. troops in La Guaira. “Two thousand arrived, of which only 300 are rescue workers — the other 1,700 are soldiers, and at the moment they are guarding these demolition operations.”
The U.S. did not come to Venezuela alone; Israeli officials from the Israel Defense Forces’ Home Front Command are also coordinating the supposed recovery of 14 sectors of La Guaira. In fact, they have already delivered a six-phase plan for the state’s recovery to the Venezuelan government. All of this comes despite Venezuela having broken diplomatic relations with Israel 17 years ago. Over those nearly two decades, Venezuelan officials have frequently issued harsh criticism and accusations against Tel Aviv over its genocidal actions in Palestine and the region.
Yet today, the same army that has killed more than 73,000 Palestinians since 2023 is now in Venezuela, claiming to want to help recover the bodies of our dead and rebuild our homes. Many Venezuelans are deeply distrustful and worried about what such “humanitarian aid” will mean for them in coming months.
“The future of La Guaira and the practical debate over the use of this land must involve the people of La Guaira, because this is our land and our economic livelihood,” Valera says.
The post Vultures Circling the Rubble: US Troops and Businesses Descend on Venezuela appeared first on Truthdig .
Vultures Circling the Rubble: US Troops and Businesses Descend on Venezuela
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