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What Will Maduro's Re-election Mean for Venezuela?

What Will Maduro's Re-election Mean for Venezuela?

The diplomatic row over re-election of Venezuelan President Nicholas Maduro has been spreading like a wildfire in South America.

Luis Emilio Rondon, the sole opposition voice on the electoral council, backed Falcon and Bertucci's claims of irregularities and said he too refused to recognize the results.

If Trump doesn't stop buying oil from Venezuela, why should we take economic measures against Maduro?

Even before the election took place, the US, Canada, the European Union and a dozen Latin American countries said they would not recognise the results.

"The US will not leave Venezuela alone so the country's prospects are grim", he added.

Maduro's re-election was widely denounced by the USA and other world powers over the weekend as his government banned two opposition candidates and lured voters in with food prizes for voting for him. But let's not kid ourselves: they are largely symbolic moves that won't suffice to topple the Venezuelan regime.

Vice President Mike Pence said that the elections were "neither free nor fair". Most Venezuelans depend on government food subsidies, which allows Maduro to exert political controls through food-for-vote programs.

It's a lesson Venezuela could learn the hard way following harsh worldwide reaction to that country's presidential election Sunday which returned President Nicolas Maduro to another six-year term in power.

The statement by Maduro came two days after his reelection victory in a vote that was condemned as illegitimate by the United States and nations across the hemisphere. Washington has already imposed sanctions against Venezuela and blamed Maduro's government for the country's acute economic crisis.

In contrast, Venezuela's regional leftist allies, such as Cuba and Bolivia, sent congratulations.

The Venezuelan government used ample state resources to get voters out on Sunday and public workers were pressured to vote.

Maduro's government, however, said the United States was using new sanctions to sabotage the election.

Falcon called for a new election, complaining about the government placing of almost 13,000 pro-government stands offering "prizes" close to polling stations nationwide.

Major protests, like those seen past year and in 2014, seem unlikely, given widespread disillusionment and fatigue.

Maduro referred to Naranjo as the head of the Central Intelligence Agency in Venezuela.

"Never have we witnessed an global attack as bad as the one that characterized this process", she said. "The third act will be the levying of sanctions on oil companies, the U.S. may possibly block any oil exports just like it has been obstructing oil companies' access to the worldwide banking system to prevent any deals involving Venezuelan oil", Pshenichnikov noted.

For worldwide pressures to work, they should be stepped up, taken in unison and be accompanied by greater unity of Venezuela's opposition parties and escalating protests on the streets.

The benchmark government bond due 2027 was bid up 0.25 points to 29 cents on the dollar while the benchmark PDVSA 2022 recovered about half of its early losses to trade down 0.65 points in price to 26.851 cents on the dollar, according to Thomson Reuters data.

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