Venezuela's Maduro announces candidacy for July re-election

In Caracas, Venezuela, President Nicolas Maduro announced his intention to seek re-election for a second term, aiming to secure another six years in office in the upcoming voting on July 28, as confirmed by the ruling Socialist party on Saturday.

Maduro, a former union leader aged 61, was officially named as the Socialist party’s candidate by Vice President Diosdado Cabello. He spoke before a large crowd of supporters at a sports arena, expressing confidence in his victory.

“There’s only one possible outcome, the people’s triumph on July 28,” Maduro declared, clad in a vibrant red jacket. “They have failed to impede us, and they never will.”

Despite recent polls indicating that only 13.9% of Venezuelans intend to vote for Maduro, he appears to be significantly behind opposition candidate Maria Corina Machado, who has garnered 54.5% of support.

However, uncertainties loom over Machado’s candidacy, as a ban preventing her from holding public office was upheld by the country’s top court, casting doubt on her participation in the election.

With candidates required to register by March 25, it remains unclear if the opposition will identify a replacement for Machado, who faces mounting pressure to select a substitute.

The United States had initially eased sanctions on Venezuela’s government in 2023 following an electoral agreement with the opposition. However, the respite was short-lived as opposition leaders were arrested and Machado faced legal obstacles. The U.S. has pledged to reinstate oil sanctions from mid-April.

Sources within the ruling party suggested to Reuters that Maduro’s policy shift may stem from dwindling support among his base of supporters.

Since assuming power in 2013 after the death of his mentor, President Hugo Chavez, Maduro has overseen Venezuela’s descent into hyperinflation and a severe economic meltdown. The country has experienced intermittent protests against the ruling party and Maduro, especially between 2014 and 2017, resulting in numerous arrests and casualties.

While the main opposition parties boycotted the 2018 presidential election and refused to acknowledge Maduro’s victory, the U.S. and other nations also declined to recognize the outcome.

Maduro narrowly secured a 1.5% victory in the 2013 elections, which the opposition candidate at the time dismissed as fraudulent.

(Reporting by Mayela Armas and Vivian Sequera; Writing by Oliver Griffin; Editing by Daina Beth Solomon, Nick Zieminski and David Gregorio)