The Venezuelan crisis threatens the interests and security of the United States and Venezuela's neighbors. The United States and regional partners need to provide humanitarian relief and security assistance and accelerate change to a post-Maduro democracy.

A bungled leadership transition and continuing economic stagnation in Algeria would have significant ramifications for U.S. counterterrorism interests and regional stability. Washington should take worthwhile to manage the risk of growing political instability, including precautionary measures to safeguard its interests should the worst happen.

Domestic politics in China, political trends in Taiwan, and changing U.S. policy toward Taiwan are increasing the risk of a cross-strait crisis in the coming months. The United States should take ste…

In addition to a sharp economic downturn, Venezuela faces a humanitarian crisis. The United States can do little to prevent a downward spiral, but it should take measures to mitigate the political, economic, and humanitarian consequences of a potential mass emigration.

Neither Israel nor Hezbollah may want to return to war, but the risk of conflict is real—especially in Syria. The Trump administration can take action to prevent unintended escalation.

Tensions are rising in the Balkans and the risk of renewed violence is growing, but the United States can help preserve peace and stability in the region.

The U.S. power grid has long been considered a logical target for a major cyberattack. Besides the intrinsic importance of the power grid to a functioning U.S. society, all sixteen sectors of the U.S. economy deemed to make up the nation’s critical infrastructure rely on electricity. Disabling or otherwise interfering with the power grid in a significant way could thus seriously harm the United States.

The likelihood that Armenians and Azerbaijanis will clash over Nagorno-Karabakh in the next twelve months is high. The situation remains tense following fierce fighting in April 2016 that marked the worst bloodshed since the 1994 cease-fire that established the current territorial division.

In March 2015, the author wrote an update to this memo to reflect recent developments in Venezuela. Read the update. Introduction In the coming months, Venezuela could experience significant po…