Kotak Mahindra Bank’s founder Uday Kotak attributed the US attack on Venezuela and the capture of its President Nicholas Maduro to a “race” between countries to grab “hard power”.
The former chief executive officer of the private lender hinted at US President Donald Trump’s attempt to gain control of the “largest oil reserves on earth” by launching a strike against the Latin American nation.
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“The United States takes control over Venezuela, which has the largest oil reserves on earth. As I said in my year end musings, this is a world of hard power, and the race between nations is on,” the veteran banker said in a post on X on January 4.
The United States takes control over Venezuela, which has the largest oil reserves on earth. As I said in my year end musings, this is a world of hard power, and the race between nations is on.— Uday Kotak (@udaykotak) January 4, 2026
Earlier, in his year-end musings, Kotak said the world is less tolerant of alternate points of views and has become more transactional in relationships. He also added that the race between countries is getting more intense, regardless of consequences and is witnessing the dominance of hard power over soft powers.
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“…Less in person interactions, environmental decline and pollution, wider divides in society, less tolerance to alternate points of view, more transient and transactional relationships, dominance of hard power over soft power. The race between nations is intensifying, less mindful of consequences. I look forward to 2026 to see us progress with conviction, sensitivity and equanimity. Happy 2026.”
On January 3, the US launched an attack on Venezuela and later capture its President Maduro and his wife, both of whom were taken to New York.
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A New York Times report said at least 40 people were killed during US military strike in an overnight operation before taking Maduro into custody.
Trump, later in a press conference, hailed the US forces and said Washington will take charge of Venezuela. “We’re going to run the country until such time as we can do a safe, proper and judicious transition,” Trump said, without offering a timeline.
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