Venezuela arrested five state police officials for their alleged role in a riot and fire that killed 68 people in an overcrowded police station cell, the country's public prosecutor said on Saturday.

"The prosecutor's office has issued arrest warrants for five officials of PoliCarabobo who have been signaled as responsible for the tragic incident that led to the death of 68 citizens in the cells of the headquarters of said regional police: THEY HAVE BEEN DETAINED #Justice," tweeted prosecutor Tarek Saab.

Saab, a former Socialist Party governor close to leftist President Nicolas Maduro, did not provide any further details on the cause of the disaster, the worst to affect Venezuela's notoriously violent jails in over two decades.

Relatives of dead inmates and one surviving prisoner told Reuters there was a shoot-out with police on Wednesday morning in the jail in Carabobo state capital Valencia.

One inmate's widow said officials had doused the area with gasoline, which fueled a fire through the small cells strung with hammocks and divided with sheets.

There was no immediate comment from Carabobo state police.

Venezuela's opposition blames the tragedy on Maduro's inability to reform Venezuela's lawless jails, where inmates strut around with weapons and orchestrate crimes from cells.

"The situation in detention centers and police jail cells in Venezuela is unacceptable!" said opposition lawmaker Miguel Pizarro. Opposition politicians have also criticized the government for its long silence about the incident. Maduro's administration only issued a statement late on Friday night expressing its condolences to relatives and the president has yet to publicly speak about the deaths.

A former bus driver and union leader who has grown widely unpopular, Maduro is running for re-election in a May election largely boycotted by the opposition.

With heavy use of state resources and a compliant electoral council, he is expected to win a six-year term despite salary-destroying hyperinflation, a fifth straight year of recession, and rampant crime.

State television focused on showing images of Venezuelans on the beach during the Easter holiday, while Maduro's ministers also largely remained mum on the Valencia disaster.

But Delcy Rodriguez, the president of thepro-government legislative superbody known as the constituent assembly, struck back at criticism of the government's handling of the jail fire. "We repudiate the use of Venezuelans' pain as a political tool," tweeted Rodriguez.

The police officials were arrested for their alleged role in a riot and fire that killed 68 people in an overcrowded police station cell

Venezuela arrested five state police officials for their alleged role in a riot and fire that killed 68 people in an overcrowded police station cell, the country's public prosecutor said on Saturday. "The prosecutor's office has issued arrest warrants for five officials of PoliCarabobo who have been signaled as responsible for the tragic incident that led to the death of 68 citizens in the cells of the headquarters of said regional police: THEY HAVE BEEN DETAINED #Justice," tweeted prosecutor Tarek Saab. Saab, a former Socialist Party governor close to leftist President Nicolas Maduro, did not provide any further details on the cause of the disaster, the worst to affect Venezuela's notoriously violent jails in over two decades. Relatives of dead inmates and one surviving prisoner told Reuters there was a shoot-out with police on Wednesday morning in the jail in Carabobo state capital Valencia. One inmate's widow said officials had doused the area with gasoline, which fueled a fire through the small cells strung with hammocks and divided with sheets. There was no immediate comment from Carabobo state police. Venezuela's opposition blames the tragedy on Maduro's inability to reform Venezuela's lawless jails, where inmates strut around with weapons and orchestrate crimes from cells. "The situation in detention centers and police jail cells in Venezuela is unacceptable!" said opposition lawmaker Miguel Pizarro. Opposition politicians have also criticized the government for its long silence about the incident. Maduro's administration only issued a statement late on Friday night expressing its condolences to relatives and the president has yet to publicly speak about the deaths. A former bus driver and union leader who has grown widely unpopular, Maduro is running for re-election in a May election largely boycotted by the opposition. With heavy use of state resources and a compliant electoral council, he is expected to win a six-year term despite salary-destroying hyperinflation, a fifth straight year of recession, and rampant crime. State television focused on showing images of Venezuelans on the beach during the Easter holiday, while Maduro's ministers also largely remained mum on the Valencia disaster. But Delcy Rodriguez, the president of thepro-government legislative superbody known as the constituent assembly, struck back at criticism of the government's handling of the jail fire. "We repudiate the use of Venezuelans' pain as a political tool," tweeted Rodriguez.

Venezuela arrests five police officials over deadly jail disaster

Venezuelan president Nicolas Maduro along with more than 50 Venezuelan nationals are considered "high risk" for laundering money and financing terrorism, according to an advisory issued by Panama's economy and finance ministry.&nbsp

Venezuelan Attorney General Tarek William Saab and electoral board president Tibisay Lucena were also named in the advisory along with Socialist Party No. 2 Diosdado Cabello, the elder brother of late president Hugo Chavez, and 16 firms in Venezuela.

The economy and finance ministry's National Commission Against Money Laundering released the list late on Thursday, following its initial announcement on Tuesday.&nbsp

Maduro's socialist government has repeatedly vowed to combat corruption that has plagued Venezuela and its oil industry for decades, contributing to its devastating economic collapse.&nbsp

But critics say the administration, despite making graft-related arrests, is still crippled by financial malfeasance.&nbsp

Millions of Venezuelans suffer from food and medicine shortages, and the currency has fallen 99.99 per cent against the US dollar on the black market since Maduro came to power in 2013.

Panama's advisory calls on financial and non-financial entities in the country to redouble efforts to prevent risk in any transaction involving the listed people and companies.&nbsp

"It's recommended... that they adopt policies and procedures of ample due diligence," says the document.&nbsp

In Caracas, Maduro`s government did not immediately respond to a request for comment.&nbsp

The United States has slammed Caracas with a wave of sanctions and other measures to pressure Maduro for change, and is considering adding broad oil sanctions that would target the linchpin of Venezuela's economy.&nbsp

Millions of Venezuelans suffer from food and medicine shortages, and the currency has fallen 99.99 per cent against the US dollar on the black market since Maduro came to power in 2013

Venezuelan president Nicolas Maduro along with more than 50 Venezuelan nationals are considered "high risk" for laundering money and financing terrorism, according to an advisory issued by Panama's economy and finance ministry. Venezuelan Attorney General Tarek William Saab and electoral board president Tibisay Lucena were also named in the advisory along with Socialist Party No. 2 Diosdado Cabello, the elder brother of late president Hugo Chavez, and 16 firms in Venezuela. The economy and finance ministry's National Commission Against Money Laundering released the list late on Thursday, following its initial announcement on Tuesday. Maduro's socialist government has repeatedly vowed to combat corruption that has plagued Venezuela and its oil industry for decades, contributing to its devastating economic collapse. But critics say the administration, despite making graft-related arrests, is still crippled by financial malfeasance. Millions of Venezuelans suffer from food and medicine shortages, and the currency has fallen 99.99 per cent against the US dollar on the black market since Maduro came to power in 2013. Panama's advisory calls on financial and non-financial entities in the country to redouble efforts to prevent risk in any transaction involving the listed people and companies. "It's recommended... that they adopt policies and procedures of ample due diligence," says the document. In Caracas, Maduro`s government did not immediately respond to a request for comment. The United States has slammed Caracas with a wave of sanctions and other measures to pressure Maduro for change, and is considering adding broad oil sanctions that would target the linchpin of Venezuela's economy.

Venezuela president lands on Panama's 'high risk' money laundering list

A fire allegedly set during an attempted jailbreak from Venezuelan police holding cells killed 68 people on Wednesday, the country's top prosecutor and an inmates' rights group said.

The blaze at the detention facility in Carabobo state is the latest in a series of deadly incidents in Venezuela's overcrowded jails.

"In light of the terrible events that took place in the Carabobo state police headquarters, where 68 people died in a presumed fire, we have appointed four prosecutors... to clarify these dramatic events," chief prosecutor Tarek William Saab said on Twitter.

Carlos Nieto, head of Una Ventana a la Libertad (A Window on Freedom), said that "some burned to death and others asphyxiated" after setting fire to mattresses and stealing a guard's gun in an attempt to break out.

The dead included two women thought to have been visiting the jail at the time of the incident, Nieto said.

Rafael Lacava, the governor of Carabobo state, expressed his "consternation" over the events but did not provide a toll.

"A serious and profound investigation has been initiated to find the causes and those responsible for these regrettable events," he said on Twitter, expressing solidarity with relatives of those who died.

Relatives of those being kept in the detention centre tried to force their way into Carabobo state police headquarters. After one officer was injured by a stone, the crowd was dispersed by police firing tear gas.

A video posted on Twitter showed dozens of people demanding information in front of police guarding the site.

"I am a desperate mother. My son has been here a week. They have not given any information," Dora Blanco told local media.

Venezuela's prisons suffer from dire overcrowding and a shortage of basic supplies, struggling under the deepening economic crisis that is gripping the once-wealthy oil-producing country.

Because of the lack of space in penitentiaries, convicts are often sent to police holding cells like the ones in Carabobo, meant to be used as temporary pens for suspects facing charges or court hearings, where detainees are supposed to spend a maximum of 48 hours.

Nieto's association estimated that the temporary detention centres were overfilled by five times their capacity.

"All the police stations in Venezuela are facing similar or worse conditions of overcrowding, lack of food and disease," he said.

The association said 65 people died last year in the holding cells due to violence, malnutrition or tuberculosis.

Two weeks ago, 58 detainees escaped holding cells on Margarita Island, a favoured tourist spot, when a hole opened up in their facility's wall. They were all soon recaptured.

In August 2017, a riot left 37 dead and 14 wounded in police cells in the southern state of Amazonas, while an April 2017 clash between rival gangs left 12 dead and 11 injured in the Puente Ayala prison in the eastern city of Barcelona.

A month before that, the remains of 14 people were found in a mass grave in the General Penitentiary of Venezuela, in San Juan de Los Morros in the country's centre.

The dead included two women thought to have been visiting the jail at the time of the incident

A fire allegedly set during an attempted jailbreak from Venezuelan police holding cells killed 68 people on Wednesday, the country's top prosecutor and an inmates' rights group said. The blaze at the detention facility in Carabobo state is the latest in a series of deadly incidents in Venezuela's overcrowded jails. "In light of the terrible events that took place in the Carabobo state police headquarters, where 68 people died in a presumed fire, we have appointed four prosecutors... to clarify these dramatic events," chief prosecutor Tarek William Saab said on Twitter. Carlos Nieto, head of Una Ventana a la Libertad (A Window on Freedom), said that "some burned to death and others asphyxiated" after setting fire to mattresses and stealing a guard's gun in an attempt to break out. The dead included two women thought to have been visiting the jail at the time of the incident, Nieto said. Rafael Lacava, the governor of Carabobo state, expressed his "consternation" over the events but did not provide a toll. "A serious and profound investigation has been initiated to find the causes and those responsible for these regrettable events," he said on Twitter, expressing solidarity with relatives of those who died. Relatives of those being kept in the detention centre tried to force their way into Carabobo state police headquarters. After one officer was injured by a stone, the crowd was dispersed by police firing tear gas. A video posted on Twitter showed dozens of people demanding information in front of police guarding the site. "I am a desperate mother. My son has been here a week. They have not given any information," Dora Blanco told local media. Venezuela's prisons suffer from dire overcrowding and a shortage of basic supplies, struggling under the deepening economic crisis that is gripping the once-wealthy oil-producing country. Because of the lack of space in penitentiaries, convicts are often sent to police holding cells like the ones in Carabobo, meant to be used as temporary pens for suspects facing charges or court hearings, where detainees are supposed to spend a maximum of 48 hours. Nieto's association estimated that the temporary detention centres were overfilled by five times their capacity. "All the police stations in Venezuela are facing similar or worse conditions of overcrowding, lack of food and disease," he said. The association said 65 people died last year in the holding cells due to violence, malnutrition or tuberculosis. Two weeks ago, 58 detainees escaped holding cells on Margarita Island, a favoured tourist spot, when a hole opened up in their facility's wall. They were all soon recaptured. In August 2017, a riot left 37 dead and 14 wounded in police cells in the southern state of Amazonas, while an April 2017 clash between rival gangs left 12 dead and 11 injured in the Puente Ayala prison in the eastern city of Barcelona. A month before that, the remains of 14 people were found in a mass grave in the General Penitentiary of Venezuela, in San Juan de Los Morros in the country's centre.

Venezuela jailbreak attempt sparks fire, 68 dead

Indian imports of oil from&nbsp;Venezuela&nbsp;have fallen to their lowest levels in over half a decade, shipping and industry data showed, as a severe economic and political crisis hits crude output in the South American OPEC member.

India&#39;s oil imports from&nbsp;Venezuela&nbsp;averaged around 300,000 barrels per day (bpd) between November, 2017 and February, 2018, a drop of about 20 per cent from the same period a year earlier and the lowest such level since 2012, according to data from shipping sources and industry.

The sources declined to be identified as they were not authorised to speak with media.

Venezuela&#39;s oil production plunged to the lowest in decades last year, with the country racked by quadruple-digit inflation, a lack of hard currency and a crippling recession.

The five-year average of&nbsp;Venezuelan crude oil to India is around 440,000 bpd, the shipping and industry data showed.

India&#39;s oil supplies continue to be dominated by Middle East members from the Organization of Petroleum Exporting Countries (OPEC), with Iraq and Saudi Arabia prominent.

Key for&nbsp;Venezuela&#39;s drop-off in shipments to India are supply obligations to other countries which, amid its overall declining output, leave fewer cargoes available for sale elsewhere.

&quot;Venezuela&nbsp;is obliged to supply barrels to China and Russia to pay back debts, so not too much is left for others, mainly India,&quot; said Ehsan Ul-Haq, director of crude oil and refined products at consultancy Resource Economist.

The sharp&nbsp;Venezuelan declines to India mark a turn-around of a previous trend.

Venezuelan oil shipments to India surged from May, 2012, when supplies from Iran hit insurance and banking hurdles caused by western sanctions against Tehran&#39;s nuclear programme.

However, New Delhi boosted purchases from Tehran after the lifting of sanctions in 2016, while a destructive cocktail of insufficient investments, payment delays to suppliers, potential U.S. sanctions and a brain drain have hammered&nbsp;Venezuela&#39;s oil industry.

&quot;Why should India buy oil from a country which is too far (away)?... Plenty of oil is easily available from nearby nations like Iraq and Iran,&quot; said Haq.

India's oil imports from Venezuela averaged around 300,000 barrels per day between November, 2017 and February, 2018

Indian imports of oil from Venezuela have fallen to their lowest levels in over half a decade, shipping and industry data showed, as a severe economic and political crisis hits crude output in the South American OPEC member. India's oil imports from Venezuela averaged around 300,000 barrels per day (bpd) between November, 2017 and February, 2018, a drop of about 20 per cent from the same period a year earlier and the lowest such level since 2012, according to data from shipping sources and industry. The sources declined to be identified as they were not authorised to speak with media. Venezuela's oil production plunged to the lowest in decades last year, with the country racked by quadruple-digit inflation, a lack of hard currency and a crippling recession. The five-year average of Venezuelan crude oil to India is around 440,000 bpd, the shipping and industry data showed. India's oil supplies continue to be dominated by Middle East members from the Organization of Petroleum Exporting Countries (OPEC), with Iraq and Saudi Arabia prominent. Key for Venezuela's drop-off in shipments to India are supply obligations to other countries which, amid its overall declining output, leave fewer cargoes available for sale elsewhere. "Venezuela is obliged to supply barrels to China and Russia to pay back debts, so not too much is left for others, mainly India," said Ehsan Ul-Haq, director of crude oil and refined products at consultancy Resource Economist. The sharp Venezuelan declines to India mark a turn-around of a previous trend. Venezuelan oil shipments to India surged from May, 2012, when supplies from Iran hit insurance and banking hurdles caused by western sanctions against Tehran's nuclear programme. However, New Delhi boosted purchases from Tehran after the lifting of sanctions in 2016, while a destructive cocktail of insufficient investments, payment delays to suppliers, potential U.S. sanctions and a brain drain have hammered Venezuela's oil industry. "Why should India buy oil from a country which is too far (away)?... Plenty of oil is easily available from nearby nations like Iraq and Iran," said Haq.

India's oil imports from Venezuela hit lowest in over five years

Venezuela&#39;s election board said on Thursday it was postponing an upcoming presidential vote from April 22 to the second half of May following an agreement between the government and some opposition parties.

Presidential elections in Venezuela are normally held at the end of the year, and critics had accused authorities of moving the vote forward to wrongfoot the opposition and benefit President Nicolas Maduro&#39;s re-election bid.

The leading opposition coalition is boycotting the poll, but one presidential hopeful, Henri Falcon, has already launched his candidacy.

Falcon, a 56-year-old former state governor, believes he can win by taking advantage of widespread dissatisfaction with the ruling socialists over Venezuela&#39;s dire economic crisis.&nbsp;

But Maduro&#39;s two strongest opposition rivals are both barred from standing.

The United States is also considering imposing sanctions against Maduro&#39;s government due to what it says are unfair conditions for the presidential vote. 
&nbsp;

The United States is also considering imposing sanctions against Maduro's government

Venezuela's election board said on Thursday it was postponing an upcoming presidential vote from April 22 to the second half of May following an agreement between the government and some opposition parties. Presidential elections in Venezuela are normally held at the end of the year, and critics had accused authorities of moving the vote forward to wrongfoot the opposition and benefit President Nicolas Maduro's re-election bid. The leading opposition coalition is boycotting the poll, but one presidential hopeful, Henri Falcon, has already launched his candidacy. Falcon, a 56-year-old former state governor, believes he can win by taking advantage of widespread dissatisfaction with the ruling socialists over Venezuela's dire economic crisis. But Maduro's two strongest opposition rivals are both barred from standing. The United States is also considering imposing sanctions against Maduro's government due to what it says are unfair conditions for the presidential vote.

Venezuela postpones presidential election to late May

A man known as the &quot;Big Bad Wolf&quot; in Colombia for allegedly sexually abusing 274 children and selling videos, has been captured in Venezuela, a report said on Sunday.

The suspect, Juan Carlos Sanchez, 37, has been arrested in neighbouring Venezuela after being on the lam for years, Semana magazine reported.

Sanchez, believed to have been detained a few weeks ago, is awaiting extradition.

The suspect was previously detained in 2008 for suspected sex with a 14-year-old but was later released.&nbsp;

The suspect, Juan Carlos Sanchez, 37, was arrested in neighbouring Venezuela

A man known as the "Big Bad Wolf" in Colombia for allegedly sexually abusing 274 children and selling videos, has been captured in Venezuela, a report said on Sunday. The suspect, Juan Carlos Sanchez, 37, has been arrested in neighbouring Venezuela after being on the lam for years, Semana magazine reported. Sanchez, believed to have been detained a few weeks ago, is awaiting extradition. The suspect was previously detained in 2008 for suspected sex with a 14-year-old but was later released.

Colombia nabs alleged serial child sex abuser: Report

Venezuela&#39;s electoral council has set April 22 as the date for a controversial presidential election, which the opposition accuses President Nicolas Maduro of using to engineer a second term for himself.

The head of the National Electoral Council, Tibisay Lucena, made the announcement today after talks broke down between the government and opposition on setting a date for the polls.

With the opposition coalition barred from fielding a candidate and several top Maduro critics banned, the deeply unpopular leftist president&#39;s opponents accuse him of rigging the snap vote before it is even held.

Venezuela was not due to hold a presidential election until December.

But the Constituent Assembly -- an all-powerful legislature stacked with Maduro loyalists -- announced last month the date would be brought forward.

It comes at a time when the opposition is reeling from Maduro&#39;s attacks and its own internal divisions.

Its umbrella coalition, the Democratic Unity Roundtable (MUD), tried to negotiate a later date in talks with government officials in the Dominican Republic.

But the dialogue broke down today, with Maduro refusing to budge from a draft deal on early elections that the opposition called unacceptable.

&quot;We implore the government not to commit the absurd mistake of calling elections unilaterally,&quot; tweeted opposition delegate Julio Borges.

The Supreme Court, which critics say systematically bows to Maduro, has barred the MUD from fielding a candidate under its banner, and banned several prominent opposition figures from participating.

The election will be held against a backdrop of economic and political crisis.&nbsp;

The head of the National Electoral Council, Tibisay Lucena, made the announcement today after talks broke down between the government and opposition on setting a date for the polls

Venezuela's electoral council has set April 22 as the date for a controversial presidential election, which the opposition accuses President Nicolas Maduro of using to engineer a second term for himself. The head of the National Electoral Council, Tibisay Lucena, made the announcement today after talks broke down between the government and opposition on setting a date for the polls. With the opposition coalition barred from fielding a candidate and several top Maduro critics banned, the deeply unpopular leftist president's opponents accuse him of rigging the snap vote before it is even held. Venezuela was not due to hold a presidential election until December. But the Constituent Assembly -- an all-powerful legislature stacked with Maduro loyalists -- announced last month the date would be brought forward. It comes at a time when the opposition is reeling from Maduro's attacks and its own internal divisions. Its umbrella coalition, the Democratic Unity Roundtable (MUD), tried to negotiate a later date in talks with government officials in the Dominican Republic. But the dialogue broke down today, with Maduro refusing to budge from a draft deal on early elections that the opposition called unacceptable. "We implore the government not to commit the absurd mistake of calling elections unilaterally," tweeted opposition delegate Julio Borges. The Supreme Court, which critics say systematically bows to Maduro, has barred the MUD from fielding a candidate under its banner, and banned several prominent opposition figures from participating. The election will be held against a backdrop of economic and political crisis.

Venezuela presidential vote set for April 22

Talks between Venezuela&#39;s government and the country&#39;s political opposition are advancing, though no concrete agreement has yet been made, according to spokespeople from each side.

Few are expecting much from the talks, which are being held in the Dominican Republic. The government and the opposition have been in on-off talks for years to reach an agreement to ease the deep political and economic crisis in the oil-rich country.

Jorge Rodriguez, Venezuela&#39;s communications minister, said in a statement to the press on Wednesday that a &quot;pre-agreement&quot; had been signed, but gave no further details.

&quot;Today is a day for joy, despite being long and arduous,&quot; he said.

However, former opposition-led National Assembly president Julio Borges denied that a pre-deal had been signed.

&quot;There are areas in which we have advanced and very important areas in which we have not advanced,&quot; said Borges.

Both delegations will now return to Caracas for consultations, before resuming talks at an unspecified date in the Dominican Republic.

Presidential elections are scheduled to take place before April 30, a decision that has been rejected by the opposition.

Jorge Rodriguez, Venezuela's communications minister, said in a statement to the press on Wednesday that a "pre-agreement" had been signed, but gave no further details

Talks between Venezuela's government and the country's political opposition are advancing, though no concrete agreement has yet been made, according to spokespeople from each side. Few are expecting much from the talks, which are being held in the Dominican Republic. The government and the opposition have been in on-off talks for years to reach an agreement to ease the deep political and economic crisis in the oil-rich country. Jorge Rodriguez, Venezuela's communications minister, said in a statement to the press on Wednesday that a "pre-agreement" had been signed, but gave no further details. "Today is a day for joy, despite being long and arduous," he said. However, former opposition-led National Assembly president Julio Borges denied that a pre-deal had been signed. "There are areas in which we have advanced and very important areas in which we have not advanced," said Borges. Both delegations will now return to Caracas for consultations, before resuming talks at an unspecified date in the Dominican Republic. Presidential elections are scheduled to take place before April 30, a decision that has been rejected by the opposition.

Venezuela government-opposition talks 'advance', no deal yet

<a href="http://www.wionews.com/india-news/indrani-mukerjea-accuses-husband-of-framing-her-in-daughter-sheena-boras-murder-24330">Peter involved in disappearance of my daughter Sheena, says Indrani</a>

In a new twist in the Sheena Bora murder case, Indrani Mukerjea claimed that her husband Peter Mukerjea is the man behind her daughter&#39;s death.

&nbsp;

<a href="http://www.wionews.com/world/venezuela-signs-debt-restructuring-deal-with-russia-gets-china-backing-24329">Venezuela signs debt restructuring deal with </a><a href="http://www.wionews.com/world/venezuela-signs-debt-restructuring-deal-with-russia-gets-china-backing-24329">Russia,</a><a href="http://www.wionews.com/world/venezuela-signs-debt-restructuring-deal-with-russia-gets-china-backing-24329"> gets China backing</a>

After being downgraded by rating agencies, Venezuela today signed up with creditors in Russia in a bid to restructure its debt crisis plaguing the country. 
&nbsp;

&nbsp;

<a href="http://www.wionews.com/world/us-aircraft-carriers-japanese-navy-conduct-joint-drill-amid-north-korea-tensions-24332">US aircraft carriers, Japanese navy conduct joint drill amid North Korea tensions</a>

Just three days after three US aircraft carriers carried out a drill with the South Korean forces, Japan and the United States launched another joint naval excercise in southern Japan.&nbsp;

&nbsp;

<a href="http://www.wionews.com/india-news/prasoon-joshi-denies-watching-padmavati-24331">I haven&#39;t expressed any views on &#39;Padmavati&#39;: Prasoon Joshi</a>

CBFC&nbsp;chairperson, Prasoon Joshi said that he has not watched the yet to be released movie, &quot;Padmavati&quot;.

&nbsp;

<a href="http://www.wionews.com/photos/da-vinci-sells-for-450mn-in-auction-record-christies-553">Da Vinci painting depicting Christ sells for $450 million in auction</a>

A 500-year-old work of art -- believed to be by Leonardo da Vinci and depicting Jesus Christ -- sold in New York on Wednesday for $450.3 million, smashing a new art auction record.

In a new twist in the Sheena Bora murder case, Indrani Mukerjea claimed that her husband Peter Mukerjea is the man behind her daughter's death.

Peter involved in disappearance of my daughter Sheena, says Indrani In a new twist in the Sheena Bora murder case, Indrani Mukerjea claimed that her husband Peter Mukerjea is the man behind her daughter's death. Venezuela signs debt restructuring deal with Russia, gets China backing After being downgraded by rating agencies, Venezuela today signed up with creditors in Russia in a bid to restructure its debt crisis plaguing the country. US aircraft carriers, Japanese navy conduct joint drill amid North Korea tensions Just three days after three US aircraft carriers carried out a drill with the South Korean forces, Japan and the United States launched another joint naval excercise in southern Japan. I haven't expressed any views on 'Padmavati': Prasoon Joshi CBFC chairperson, Prasoon Joshi said that he has not watched the yet to be released movie, "Padmavati". Da Vinci painting depicting Christ sells for $450 million in auction A 500-year-old work of art -- believed to be by Leonardo da Vinci and depicting Jesus Christ -- sold in New York on Wednesday for $450.3 million, smashing a new art auction record.

WION Morning News Brief, November 16, 2017

<a href="http://www.wionews.com/world/now-fitch-places-venezuela-on-selective-default-24263">After being downgraded by rating agencies</a>, Venezuela today signed up with creditors in Russia in a bid to restructure&nbsp;its debt crisis plaguing the country.

On Wednesday, Fitch ratings <a href="http://www.wionews.com/world/sp-declares-venezuela-in-selective-default-24168">agency had downgraded the cash-strapped</a> nation to &nbsp;&#39;RD&#39; (Restricted Default), just 24 hours after S&amp;P had downgraded the issue ratings on Venezuela&#39;s bond which it had failed to pay to D from CC and cut the country&rsquo;s long-term foreign currency sovereign credit rating to selective default, or SD, from CC.

Finance minister Simon Zerpa signed a deal with Russia for a $3.15 billion of debt taken out in 2011 to finance the purchase of Russian arms.

Under the agreement, Caracas will pay back its debts over 10 years, with &quot;minimal&quot; reimbursements for the first six years, Russia&#39;s foreign ministry said in a statement.

&quot;The reduction of the burden of debt... will allow the utilisation of funds to develop the country&#39;s economy, improve the debtor&#39;s solvency and increase the chances of all creditors recovering loans already made,&quot; according to the statement on the ministry&#39;s website.

&quot;These are very favourable terms that Venezuela can honour. This deal strengthens the relations between our two countries,&quot; Venezuelan vice president for the economy Wilmar Castro Soteldo told a press conference.

Communications Minister Jorge Rodriguez said Venezuela was already catching up on the payments.

&quot;Today, we have begun interest payments on Venezuela&#39;s foreign debt and last week, PDVSA made its debt interest payments,&quot; he said on state television.

&quot;We pay our debts, despite what the ratings agencies, the US Treasury, the European Union or US President Donald Trump says.&quot;

While China did not offer any debt relief, the foreign ministry&nbsp;issued a statement saying China&#39;s cooperation with Venezuela in all areas was &quot;proceeding normally&quot;.

Venezuela has been crippled under heavy US sanctions. The Trump administration had imposed more sanctions even as the country failed to pay creditors with US targeting Maduro government officials by freezing their assets and barring them from doing business with the US. &nbsp;

The US has imposed sanctions against more than 30 Venezuelan leaders, reports said.

The European Union had imposed arms embargo against the oil-rich nation as the state-controlled oil company PDVSA bonds went on a free fall last week.

Venezuela and PDVSA have around $60 billion in outstanding bonds, according to Thomson Reuters data, while private estimates put total foreign debt between $120 billion and $140 billion.

While China did not offer any debt relief, the foreign ministry's issued a statement saying China's cooperation with Venezuela in all areas was "proceeding normally"

After being downgraded by rating agencies, Venezuela today signed up with creditors in Russia in a bid to restructure its debt crisis plaguing the country. On Wednesday, Fitch ratings agency had downgraded the cash-strapped nation to 'RD' (Restricted Default), just 24 hours after S&P had downgraded the issue ratings on Venezuela's bond which it had failed to pay to D from CC and cut the country’s long-term foreign currency sovereign credit rating to selective default, or SD, from CC. Finance minister Simon Zerpa signed a deal with Russia for a $3.15 billion of debt taken out in 2011 to finance the purchase of Russian arms. Under the agreement, Caracas will pay back its debts over 10 years, with "minimal" reimbursements for the first six years, Russia's foreign ministry said in a statement. "The reduction of the burden of debt... will allow the utilisation of funds to develop the country's economy, improve the debtor's solvency and increase the chances of all creditors recovering loans already made," according to the statement on the ministry's website. "These are very favourable terms that Venezuela can honour. This deal strengthens the relations between our two countries," Venezuelan vice president for the economy Wilmar Castro Soteldo told a press conference. Communications Minister Jorge Rodriguez said Venezuela was already catching up on the payments. "Today, we have begun interest payments on Venezuela's foreign debt and last week, PDVSA made its debt interest payments," he said on state television. "We pay our debts, despite what the ratings agencies, the US Treasury, the European Union or US President Donald Trump says." While China did not offer any debt relief, the foreign ministry issued a statement saying China's cooperation with Venezuela in all areas was "proceeding normally". Venezuela has been crippled under heavy US sanctions. The Trump administration had imposed more sanctions even as the country failed to pay creditors with US targeting Maduro government officials by freezing their assets and barring them from doing business with the US. The US has imposed sanctions against more than 30 Venezuelan leaders, reports said. The European Union had imposed arms embargo against the oil-rich nation as the state-controlled oil company PDVSA bonds went on a free fall last week. Venezuela and PDVSA have around $60 billion in outstanding bonds, according to Thomson Reuters data, while private estimates put total foreign debt between $120 billion and $140 billion.

Venezuela signs debt restructuring deal with Russia, gets China backing

Venezuela, the South American country convulsed by economic and humanitarian catastrophe, has defaulted on some of its debt after missing an interest payment due in October.

Even as investors meet in Caracas to discuss restructuring US$60 billion in foreign debt, the country is in urgent need of international financial assistance.

Yet few nations are rushing in to offer financial assistance to the ailing country. Under the authoritarian regime of Nicol&aacute;s Maduro, Venezuela is isolated in Latin America, and the United States, Canada and the European Union have all imposed sanctions against Venezuelan officials. Maduro has at times suggested he would not even accept humanitarian aid.

Still, no indebted nation is totally alone in this world. As a financial analyst, I know there are always international players who see opportunity in the problems of others. And for Venezuela, my home country, all hope of a bailout rests with China, Russia and the International Monetary Fund.

Will they do anything to help?

Venezuela&rsquo;s debt: By the numbers

Before exploring a possible Venezuela rescue, it is useful to understand how the country&rsquo;s debt became such a burden.

In 1998, the year before the late Hugo Ch&aacute;vez came into power, Venezuela was rich. It produced roughly 60 barrels of oil per inhabitant per year.

By late 2017, my projections &ndash; based on data compiled from Venezuela&rsquo;s National Statistics Institute and BP&rsquo;s World Energy Report 2017 &ndash; show that production will have dropped to 20 barrels per capita. That&rsquo;s a 66 per cent drop in 20 years.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/file-20171114-26426-4er2ac-20171115063417.png" />
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Oil output per capita in Venezuela has dropped significantly in the past several decades. Henkel Garcia/BP Statistical Review of World Energy 2017/National Statistics Institute (Others)
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Even as output steadily shrank, Ch&aacute;vez benefitted from relatively high oil prices, which allowed him to boost revenue from petroleum exports. And as oil sales rose, so did government expenditures, as well as imports of food and other goods.

Eventually, excess spending took a toll on Venezuela&rsquo;s international reserves. Rather than cut expenditures and imports, the Ch&aacute;vez regime piled up foreign debt.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/file-20171114-26429-10u0f9q-20171115062643.png" />
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As exports (US$ per capita) rose, so too did government spending and imports. Banco Central de Venezuela, FRED (Federal Reserve Bank of St. Louis), National Statistics Institute and Econom&eacute;trica. (Others)
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Then, in late 2014, international oil prices began to plunge. Today, estimates indicate that Venezuela&rsquo;s public sector debt tops $184.5 billion, including $60 billion in foreign debt, though the Venezuelan Central Bank claims it&rsquo;s much lower.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/file-20171114-26465-1ga8tcj-20171115062229.png" />
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Venezuela&rsquo;s foreign public debt, in US$ million, is at an all-time high. (Venezuelan Central Bank) (Others)
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To service this debt, the government must pay $16 billion to $20 billion a year through at least 2022. Shouldering that huge expense has meant slashing imports, causing food and medicine shortages. As a result, almost 54 per cent of Venezuelan children are malnourished.

To ensure its citizens&rsquo; basic well-being, Venezuela must be able to import, on average, $1,000 a year per inhabitant &ndash; or roughly $33 billion a year. My data show it&rsquo;s currently bringing in about half that.

No Chinese largess

As an oil producer, Venezuela&rsquo;s desperation rouses geopolitical interests.

Venezuela owes $28.1 billion to China and $9.1 billion to Russia, its main creditors. In recent years, both countries have been eager to prop up the Maduro regime, with little concern for its authoritarian tendencies.

China, at least publicly, has remained decidedly mum on Venezuela&rsquo;s political crisis. According to a spokesperson from the Chinese Ministry of Foreign Affairs in October, Beijing &ldquo;believe[s] that the government of this country is able to appropriately handle its domestic affairs within the law, maintaining stability and prosperity.&rdquo;

So far, though, Chinese financial institutions have not further opened their coffers. They have, however, granted Venezuela a grace period of at least 18 months to pay off the debt it owes them. This modest concession gives the government a bit of breathing room.

China has also allowed Venezuela to use shipments of crude to pay off some of its debt, revealing China&rsquo;s main interest in Venezuela: its oil.

But, in my view, Venezuela shouldn&rsquo;t count on Beijing for significant additional financial help. For China to issue new loans, insiders have told me, Maduro&rsquo;s government would have to show clear signs of fiscal discipline. Nothing indicates it is capable of that.

I believe a more likely next step is that Venezuela will bring in much-needed cash by selling off existing stakes in oil companies and resource-extraction ventures it co-owns with China.

Putin to the rescue?

Russia has been somewhat more generous with Venezuela, and its geopolitical interests here are clear.

The Kremlin benefits from having a trustworthy ally on this side of the world &ndash; especially one that is avowedly anti-U.S. and ranked as the 11th-largest oil producer worldwide.

Plus, Russia already has many oil interests in the country, including joint exploration projects with Petr&oacute;leos de Venezuela, the state-owned oil company.

Indeed, Russia and its state-funded oil venture, Rosneft, have already helped the country avoid default at least twice, providing Caracas with $10 billion in financial assistance. In an Oct. 29 New York Times article, oil expert Francisco Monaldi said Russia is &ldquo;the only country that can toss Venezuela a lifeline.&rdquo;

In my opinion, even its public declarations defending Venezuela&rsquo;s politics are more incisive than China&rsquo;s. Russia&rsquo;s Foreign Ministry has called international sanctions against Venezuela &ldquo;unacceptable.&rdquo;

Still, thus far, Russia has agreed only to restructure its bilateral debt with Venezuela. While the terms weren&rsquo;t disclosed, I don&rsquo;t believe anything like a real bailout is on offer.

Last resource

This could lead Venezuela to its last resort: the International Monetary Fund. In my opinion, this global lender would be the most appropriate source of a bailout.

Neither China nor Russia is willing or able to offer the huge sum Venezuela needs to stay afloat, at least $30 billion. Nor is any country likely to match the super-low 2 per cent interest rate that the IMF offers to emerging economies in crisis.

Bondholders typically look askance at this type of financial assistance. Countries receiving support from the IMF and other multilateral lenders are generally &ldquo;advised to renegotiate foreign debt,&rdquo; which can leave investors with empty pockets.

And today, Venezuela has no official relationship with the organisation. The Ch&aacute;vez administration loved to disparage the IMF, saying it should &ldquo;close down&rdquo; or &ldquo;vanish.&rdquo;

Even so, there are signs that the IMF is sketching out a possible rescue plan for the country. Bank officials have expressed concern with both Venezuela&rsquo;s humanitarian crisis and the possible spinoff effects of its economic collapse on other Latin American economies.

Since the multilateral organisation is unlikely to bail out the current regime &ndash; which has previously rebuked its possible intervention &ndash; the IMF probably hopes to work with some future transition government that&rsquo;s more democratic and open to international aid. If so, help may be a long time coming.

This article was originally published on <a href="http://theconversation.com" rel="nofollow" target="blank">The Conversation</a>. Read the <a href="https://theconversation.com/nobody-is-going-to-bail-out-venezuela-87428" rel="nofollow" target="blank">original article</a>.

China, Russia and the International Monetary Fund are among those contemplating a Venezuela bailout. But help for this debt-stricken nation seems far from assured.

Venezuela, the South American country convulsed by economic and humanitarian catastrophe, has defaulted on some of its debt after missing an interest payment due in October. Even as investors meet in Caracas to discuss restructuring US$60 billion in foreign debt, the country is in urgent need of international financial assistance. Yet few nations are rushing in to offer financial assistance to the ailing country. Under the authoritarian regime of Nicolás Maduro, Venezuela is isolated in Latin America, and the United States, Canada and the European Union have all imposed sanctions against Venezuelan officials. Maduro has at times suggested he would not even accept humanitarian aid. Still, no indebted nation is totally alone in this world. As a financial analyst, I know there are always international players who see opportunity in the problems of others. And for Venezuela, my home country, all hope of a bailout rests with China, Russia and the International Monetary Fund. Will they do anything to help? Venezuela’s debt: By the numbers Before exploring a possible Venezuela rescue, it is useful to understand how the country’s debt became such a burden. In 1998, the year before the late Hugo Chávez came into power, Venezuela was rich. It produced roughly 60 barrels of oil per inhabitant per year. By late 2017, my projections – based on data compiled from Venezuela’s National Statistics Institute and BP’s World Energy Report 2017 – show that production will have dropped to 20 barrels per capita. That’s a 66 per cent drop in 20 years. Oil output per capita in Venezuela has dropped significantly in the past several decades. Henkel Garcia/BP Statistical Review of World Energy 2017/National Statistics Institute (Others) × Even as output steadily shrank, Chávez benefitted from relatively high oil prices, which allowed him to boost revenue from petroleum exports. And as oil sales rose, so did government expenditures, as well as imports of food and other goods. Eventually, excess spending took a toll on Venezuela’s international reserves. Rather than cut expenditures and imports, the Chávez regime piled up foreign debt. As exports (US$ per capita) rose, so too did government spending and imports. Banco Central de Venezuela, FRED (Federal Reserve Bank of St. Louis), National Statistics Institute and Econométrica. (Others) × Then, in late 2014, international oil prices began to plunge. Today, estimates indicate that Venezuela’s public sector debt tops $184.5 billion, including $60 billion in foreign debt, though the Venezuelan Central Bank claims it’s much lower. Venezuela’s foreign public debt, in US$ million, is at an all-time high. (Venezuelan Central Bank) (Others) × To service this debt, the government must pay $16 billion to $20 billion a year through at least 2022. Shouldering that huge expense has meant slashing imports, causing food and medicine shortages. As a result, almost 54 per cent of Venezuelan children are malnourished. To ensure its citizens’ basic well-being, Venezuela must be able to import, on average, $1,000 a year per inhabitant – or roughly $33 billion a year. My data show it’s currently bringing in about half that. No Chinese largess As an oil producer, Venezuela’s desperation rouses geopolitical interests. Venezuela owes $28.1 billion to China and $9.1 billion to Russia, its main creditors. In recent years, both countries have been eager to prop up the Maduro regime, with little concern for its authoritarian tendencies. China, at least publicly, has remained decidedly mum on Venezuela’s political crisis. According to a spokesperson from the Chinese Ministry of Foreign Affairs in October, Beijing “believe[s] that the government of this country is able to appropriately handle its domestic affairs within the law, maintaining stability and prosperity.” So far, though, Chinese financial institutions have not further opened their coffers. They have, however, granted Venezuela a grace period of at least 18 months to pay off the debt it owes them. This modest concession gives the government a bit of breathing room. China has also allowed Venezuela to use shipments of crude to pay off some of its debt, revealing China’s main interest in Venezuela: its oil. But, in my view, Venezuela shouldn’t count on Beijing for significant additional financial help. For China to issue new loans, insiders have told me, Maduro’s government would have to show clear signs of fiscal discipline. Nothing indicates it is capable of that. I believe a more likely next step is that Venezuela will bring in much-needed cash by selling off existing stakes in oil companies and resource-extraction ventures it co-owns with China. Putin to the rescue? Russia has been somewhat more generous with Venezuela, and its geopolitical interests here are clear. The Kremlin benefits from having a trustworthy ally on this side of the world – especially one that is avowedly anti-U.S. and ranked as the 11th-largest oil producer worldwide. Plus, Russia already has many oil interests in the country, including joint exploration projects with Petróleos de Venezuela, the state-owned oil company. Indeed, Russia and its state-funded oil venture, Rosneft, have already helped the country avoid default at least twice, providing Caracas with $10 billion in financial assistance. In an Oct. 29 New York Times article, oil expert Francisco Monaldi said Russia is “the only country that can toss Venezuela a lifeline.” In my opinion, even its public declarations defending Venezuela’s politics are more incisive than China’s. Russia’s Foreign Ministry has called international sanctions against Venezuela “unacceptable.” Still, thus far, Russia has agreed only to restructure its bilateral debt with Venezuela. While the terms weren’t disclosed, I don’t believe anything like a real bailout is on offer. Last resource This could lead Venezuela to its last resort: the International Monetary Fund. In my opinion, this global lender would be the most appropriate source of a bailout. Neither China nor Russia is willing or able to offer the huge sum Venezuela needs to stay afloat, at least $30 billion. Nor is any country likely to match the super-low 2 per cent interest rate that the IMF offers to emerging economies in crisis. Bondholders typically look askance at this type of financial assistance. Countries receiving support from the IMF and other multilateral lenders are generally “advised to renegotiate foreign debt,” which can leave investors with empty pockets. And today, Venezuela has no official relationship with the organisation. The Chávez administration loved to disparage the IMF, saying it should “close down” or “vanish.” Even so, there are signs that the IMF is sketching out a possible rescue plan for the country. Bank officials have expressed concern with both Venezuela’s humanitarian crisis and the possible spinoff effects of its economic collapse on other Latin American economies. Since the multilateral organisation is unlikely to bail out the current regime – which has previously rebuked its possible intervention – the IMF probably hopes to work with some future transition government that’s more democratic and open to international aid. If so, help may be a long time coming. This article was originally published on The Conversation. Read the original article.

Who is going to pay for Venezuela's oil debt

A day after rating agency S&amp;P downgraded Venezuela over its failure to make overdue payments, Fitch ratings too downgraded the cash-strapped nation to &nbsp;&#39;RD&#39; (Restricted Default).

On Tuesday, Standard &amp; Poor&#39;s had placed the debt-ridden country in the &quot;selective default&quot; list. S&amp;P had said it had downgraded the issue ratings on Venezuela&#39;s bond which it had failed to pay to D from CC and cut the country&rsquo;s long-term foreign currency sovereign credit rating to selective default, or SD, from CC.

&quot;Fitch Ratings has downgraded Venezuela&#39;s Long-Term Foreign Currency Issuer Default Rating (IDR) to &#39;RD&#39; (Restricted Default) from &#39;C&#39; and affirmed the Long-Term Local Currency IDR at &#39;CC&#39;,&quot; the ratings agency said in a statement.

The downgrade &quot;reflects the failure of bondholders to receive overdue interest payments on Venezuela&#39;s sovereign bonds maturing Oct. 13, 2019 and Oct. 13, 2024 by the end of the 30-day grace period that ended on Nov. 13, 2017,&quot; Fitch&nbsp;said.

The downgrade comes even as the government declared on Wednesday it had successfully begun the process of refinancing its foreign debt.&nbsp;

&quot;The government of the Bolivarian Republic of Venezuela wants to inform the world that today, at the Miraflores Government Palace, the process of refinancing Venezuela&#39;s foreign debt was started with resounding success, as a strategy to fully comply with our obligations,&quot; an official statement read.

However, creditors and rating agencies still do not know how the oil-rich nation will pay up its debts. Venezuelan Opposition has accused&nbsp;the Maduro government of wrecking the economy.

The Opposition has been demanding &quot;free&quot; and &quot;fair&quot; presidential elections in 2018 presidential election in a bid to put the economy back on track.

At least 125 people have died in the past four months in violent protests against Maduro as the country&#39;s economy has crashed to new a low with several people unable to afford food products and basic amenities with inflation at an all-time high.&nbsp;

On Tuesday, Standard & Poor's had placed the debt-ridden country in the "selective default" list.

A day after rating agency S&P downgraded Venezuela over its failure to make overdue payments, Fitch ratings too downgraded the cash-strapped nation to 'RD' (Restricted Default). On Tuesday, Standard & Poor's had placed the debt-ridden country in the "selective default" list. S&P had said it had downgraded the issue ratings on Venezuela's bond which it had failed to pay to D from CC and cut the country’s long-term foreign currency sovereign credit rating to selective default, or SD, from CC. "Fitch Ratings has downgraded Venezuela's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'RD' (Restricted Default) from 'C' and affirmed the Long-Term Local Currency IDR at 'CC'," the ratings agency said in a statement. The downgrade "reflects the failure of bondholders to receive overdue interest payments on Venezuela's sovereign bonds maturing Oct. 13, 2019 and Oct. 13, 2024 by the end of the 30-day grace period that ended on Nov. 13, 2017," Fitch said. The downgrade comes even as the government declared on Wednesday it had successfully begun the process of refinancing its foreign debt. "The government of the Bolivarian Republic of Venezuela wants to inform the world that today, at the Miraflores Government Palace, the process of refinancing Venezuela's foreign debt was started with resounding success, as a strategy to fully comply with our obligations," an official statement read. However, creditors and rating agencies still do not know how the oil-rich nation will pay up its debts. Venezuelan Opposition has accused the Maduro government of wrecking the economy. The Opposition has been demanding "free" and "fair" presidential elections in 2018 presidential election in a bid to put the economy back on track. At least 125 people have died in the past four months in violent protests against Maduro as the country's economy has crashed to new a low with several people unable to afford food products and basic amenities with inflation at an all-time high.

Now, Fitch places Venezuela on 'selective default'

Venezuela&#39;s opposition said on Tuesday that this week&#39;s planned political dialogue in the Dominican Republic with President Nicolas Maduro&#39;s government was being postponed because regional guarantors were not going.

&quot;The international negotiation process cannot go ahead until the foreign ministers are invited,&quot; opposition negotiator Luis Florido said, referring to the potential presence of Latin American foreign ministers at the talks.

Negotiations to ease a bitter and long-running political crisis in the OPEC nation had been scheduled for Wednesday. Previous dialogue efforts have ended in recriminations between the two sides with no concrete progress.

The opposition coalition had previously accused the Maduro government of blocking the presence of foreign ministers at this week&#39;s talks, but on Tuesday said it appeared to be more a scheduling problem.

<a href="http://www.wionews.com/preview/article/24168">Also read:&nbsp;S&amp;P declares Venezuela in &#39;selective default&#39;</a>

There was no immediate response from officials.

The opposition&#39;s principal demand is for free and fair conditions for the 2018 presidential election.

It also wants freedom for jailed activists, autonomy for the opposition-led Congress, and a foreign humanitarian aid corridor to help alleviate&nbsp;Venezuela&#39;s unprecedented economic crisis.

Maduro accuses his opponents of conspiring with the United States and a right-wing international campaign to oust his socialist government via a coup. The government is seeking guarantees against violence and recognition of the pro-Maduro Constituent Assembly that has overridden Congress.

At least 125 people died in four months of often violent protests against Maduro earlier this year. Foes say he is a dictator who has wrecked a once-prosperous economy.

Maduro and his allies have accused the opposition of preferring violence to dialogue.

Debt refinancing talks with international investors had begun successfully in Caracas on Monday, the government said, though creditors said the discussions were fruitless.

The opposition coalition had previously accused the Maduro government of blocking the presence of foreign ministers at this week's talks, but on Tuesday said it appeared to be more a scheduling problem.

Venezuela's opposition said on Tuesday that this week's planned political dialogue in the Dominican Republic with President Nicolas Maduro's government was being postponed because regional guarantors were not going. "The international negotiation process cannot go ahead until the foreign ministers are invited," opposition negotiator Luis Florido said, referring to the potential presence of Latin American foreign ministers at the talks. Negotiations to ease a bitter and long-running political crisis in the OPEC nation had been scheduled for Wednesday. Previous dialogue efforts have ended in recriminations between the two sides with no concrete progress. The opposition coalition had previously accused the Maduro government of blocking the presence of foreign ministers at this week's talks, but on Tuesday said it appeared to be more a scheduling problem. Also read: S&P declares Venezuela in 'selective default' There was no immediate response from officials. The opposition's principal demand is for free and fair conditions for the 2018 presidential election. It also wants freedom for jailed activists, autonomy for the opposition-led Congress, and a foreign humanitarian aid corridor to help alleviate Venezuela's unprecedented economic crisis. Maduro accuses his opponents of conspiring with the United States and a right-wing international campaign to oust his socialist government via a coup. The government is seeking guarantees against violence and recognition of the pro-Maduro Constituent Assembly that has overridden Congress. At least 125 people died in four months of often violent protests against Maduro earlier this year. Foes say he is a dictator who has wrecked a once-prosperous economy. Maduro and his allies have accused the opposition of preferring violence to dialogue. Debt refinancing talks with international investors had begun successfully in Caracas on Monday, the government said, though creditors said the discussions were fruitless.

Venezuela opposition says talks with government delayed

Standard &amp;<a href="http://www.wionews.com/business-economy/venezuelas-state-run-oil-firm-pdvsa-misses-debt-payment-to-ongc-24144"> Poor&#39;s, the global rating agency, has placed debt-ridden</a> Venezuela in the &quot;selective default&quot;&nbsp;list.

The oil-rich <a href="http://www.wionews.com/world/venezuela-begins-refinancing-its-foreign-debt-24155">country failed to make payments of over $200 million</a> to creditors by the end of a 30-day grace period that expired over the weekend.

S&amp;P said it had downgraded the issue ratings on Venezuela&#39;s bond which it had failed to pay to D from CC and cut the country&rsquo;s long-term foreign currency sovereign credit rating to selective default, or SD, from CC.

Although the Venezuelan government had said on Monday that it had successfully begun the process of refinancing its foreign debt during a meeting in Caracas with bondholders from various countries.

Caracas added that it has &quot;punctually&quot; paid $73.35 billion for debt services in the last 36 months, and hoped that the Monday&#39;s meeting will help reiterate its willingness to comply with its commitments. However, S&amp;P did not agree completely with the government placing the country in the &quot;default&quot;&nbsp;list.

&ldquo;Our CreditWatch negative reflects our opinion that there is a one-in-two chance that Venezuela could default again within the next three months,&rdquo; S&amp;P said.

Meanwhile,&nbsp;European Union(EU) foreign ministers approved economic sanctions, including an arms embargo on Venezuela on Monday. The EU said regional elections last month marred by reported irregularities had deepened the country&#39;s crisis.

Over the weekend, Maduro had termed imminent sanctions by the bloc as &quot;stupid.&quot;

Venezuela has been&nbsp;reeling under crippling US sanctions along with the fall in global oil prices has led to large-scale economic and social downturn in the country.

The oil-rich country failed to make payments of over $200 million to creditors by the end of a 30-day grace period that expired over the weekend.

Standard & Poor's, the global rating agency, has placed debt-ridden Venezuela in the "selective default" list. The oil-rich country failed to make payments of over $200 million to creditors by the end of a 30-day grace period that expired over the weekend. S&P said it had downgraded the issue ratings on Venezuela's bond which it had failed to pay to D from CC and cut the country’s long-term foreign currency sovereign credit rating to selective default, or SD, from CC. Although the Venezuelan government had said on Monday that it had successfully begun the process of refinancing its foreign debt during a meeting in Caracas with bondholders from various countries. Caracas added that it has "punctually" paid $73.35 billion for debt services in the last 36 months, and hoped that the Monday's meeting will help reiterate its willingness to comply with its commitments. However, S&P did not agree completely with the government placing the country in the "default" list. “Our CreditWatch negative reflects our opinion that there is a one-in-two chance that Venezuela could default again within the next three months,” S&P said. Meanwhile, European Union(EU) foreign ministers approved economic sanctions, including an arms embargo on Venezuela on Monday. The EU said regional elections last month marred by reported irregularities had deepened the country's crisis. Over the weekend, Maduro had termed imminent sanctions by the bloc as "stupid." Venezuela has been reeling under crippling US sanctions along with the fall in global oil prices has led to large-scale economic and social downturn in the country.

S&P declares Venezuela in 'selective default'

The Venezuelan government said Monday that the country has successfully begun the process of refinancing its foreign debt during a meeting earlier in the day in Caracas with bondholders from various countries.

&quot;The government of the Bolivarian Republic of Venezuela wants to inform the world that today, at the Miraflores Government Palace, the process of refinancing Venezuela&#39;s foreign debt was started with resounding success, as a strategy to fully comply with our obligations,&quot; an official statement read.

Venezuelan government representatives met with creditors to try and renegotiate the debt, an initial meeting from which no agreements or concrete proposals emerged and at which the Nicolas Maduro administration informed its creditors of its limitations to pay.

&quot;We rate this meeting, in which Venezuelan debt holders from Venezuela, the United States, Panama, the United Kingdom, Portugal, Colombia, Chile, Argentina, Japan and Germany participated, as highly positive and very auspicious,&quot; the statement continued.

Venezuela accuses Washington of &quot;attacking&quot; its economy and denounces that the credit rating agencies, following the pattern of financial blockade undertaken by the Donald Trump administration, extol the reports that are devoid of any form of rigor and veracity, and intervene to hinder the country.

Caracas added that it has &quot;punctually&quot; paid $73.35 billion for debt services in the last 36 months, and hoped that the Monday&#39;s meeting will help reiterate its willingness to comply with its commitments.

&quot;The positive climate in which this refinancing process began indicates that we will move forward and continue to build the welfare state that the people of Venezuela deserve,&quot; the official note added.

According to the Venezuelan National Assembly&#39;s financial commission&#39;s estimates, Venezuela holds a total debt close to $150 billion, which results in an annual payments close to $10 billion, &quot;not including what is paid to China and Russia&quot; by various agreements.

(All the rights of the contents (text, photo, video, multimedia products and others) included in the services supplied to the user in this test are EFE-EPA property and shall be reproduced under EFE-EPA @copyright. Contents shall be reproduced only in the terms agreed with EFE and by no mean can those be redistributed, transferred or traded. User shall be held responsible for the alteration or misuse of the contents and products included in EFE-EPA services. User is compelled to follow the national law and will be the only responsible for the use or misuse of the contents provided by EFE-EPA.)

Venezuelan government representatives met with creditors to try and renegotiate the debt, an initial meeting from which no agreements or concrete proposals emerged.

The Venezuelan government said Monday that the country has successfully begun the process of refinancing its foreign debt during a meeting earlier in the day in Caracas with bondholders from various countries. "The government of the Bolivarian Republic of Venezuela wants to inform the world that today, at the Miraflores Government Palace, the process of refinancing Venezuela's foreign debt was started with resounding success, as a strategy to fully comply with our obligations," an official statement read. Venezuelan government representatives met with creditors to try and renegotiate the debt, an initial meeting from which no agreements or concrete proposals emerged and at which the Nicolas Maduro administration informed its creditors of its limitations to pay. "We rate this meeting, in which Venezuelan debt holders from Venezuela, the United States, Panama, the United Kingdom, Portugal, Colombia, Chile, Argentina, Japan and Germany participated, as highly positive and very auspicious," the statement continued. Venezuela accuses Washington of "attacking" its economy and denounces that the credit rating agencies, following the pattern of financial blockade undertaken by the Donald Trump administration, extol the reports that are devoid of any form of rigor and veracity, and intervene to hinder the country. Caracas added that it has "punctually" paid $73.35 billion for debt services in the last 36 months, and hoped that the Monday's meeting will help reiterate its willingness to comply with its commitments. "The positive climate in which this refinancing process began indicates that we will move forward and continue to build the welfare state that the people of Venezuela deserve," the official note added. According to the Venezuelan National Assembly's financial commission's estimates, Venezuela holds a total debt close to $150 billion, which results in an annual payments close to $10 billion, "not including what is paid to China and Russia" by various agreements. (All the rights of the contents (text, photo, video, multimedia products and others) included in the services supplied to the user in this test are EFE-EPA property and shall be reproduced under EFE-EPA @copyright. Contents shall be reproduced only in the terms agreed with EFE and by no mean can those be redistributed, transferred or traded. User shall be held responsible for the alteration or misuse of the contents and products included in EFE-EPA services. User is compelled to follow the national law and will be the only responsible for the use or misuse of the contents provided by EFE-EPA.)

Venezuela begins refinancing its foreign debt

As Venezuela&#39;s<a href="http://www.wionews.com/world/us-hits-dictator-maduro-with-sanctions-over-disputed-venezuela-vote-18457"> debt crisis deepens, reports say state-owned&nbsp;oil firm PDVSA </a>has not made debt payments to India&#39;s Oil and Natural Gas Corporation(ONGC) for six months.

Venezuela is reeling<a href="http://www.wionews.com/world/trump-warns-venezuelas-maduro-of-economic-actions-over-bid-to-rewrite-constitution-18019"> under crippling US sanctions even though President Maduro</a> vowed on Monday to continue paying debts.&nbsp;

Nearly $300 million in late interest payments on three bonds - PDVSA 2027, Venezuela 2019 and Venezuela 2024 - was also due on Monday but the Venezuelan government gave no roadmap on its restructure and refinancing plans.

ONGC Videsh, the overseas investment arm of ONGC, confirmed to Reuters that PDVSA had fallen behind on the payments, but declined to give details on the delays.

&ldquo;They have got certain challenges at this stage,&rdquo; ONGC Videsh said in an emailed response to Reuters&rsquo; questions.&nbsp;

&ldquo;They have assured that they are working on it (payment of dues). In due course it will be settled and follow up steps will be undertaken,&rdquo; the official added.

&ldquo;We have a good working relationship with PDVSA,&rdquo; the ONGC official said.

Reuters quoted two sources to inform that PDVSA had made no payment since April on a $540 million dividends backlog to ONGC for an investment the Indian firm made in an energy project in Venezuela.&nbsp;

Last week Venezuela&#39;s PDVSA had made an overdue $1.1 billion principal payment, Bloomberg said even as President Maduro attracted international attention from creditors and domestic audience for his handling of the economic crisis.

Venezuela&#39;s Electricidad de Caracas - a state-owned electric company had defaulted on a $650 million bond payment, Wilmington Trust had said last Friday.

The OPEC member&rsquo;s economy has collapsed since global oil prices plummeted in 2014. Venezuela depends on oil for more than 90 per cent of export revenue.

President Nicolas Maduro confused investors this month with a vow to continue paying Venezuela's crippling debt, while also seeking to restructure and refinance it.

As Venezuela's debt crisis deepens, reports say state-owned oil firm PDVSA has not made debt payments to India's Oil and Natural Gas Corporation(ONGC) for six months. Venezuela is reeling under crippling US sanctions even though President Maduro vowed on Monday to continue paying debts. Nearly $300 million in late interest payments on three bonds - PDVSA 2027, Venezuela 2019 and Venezuela 2024 - was also due on Monday but the Venezuelan government gave no roadmap on its restructure and refinancing plans. ONGC Videsh, the overseas investment arm of ONGC, confirmed to Reuters that PDVSA had fallen behind on the payments, but declined to give details on the delays. “They have got certain challenges at this stage,” ONGC Videsh said in an emailed response to Reuters’ questions. “They have assured that they are working on it (payment of dues). In due course it will be settled and follow up steps will be undertaken,” the official added. “We have a good working relationship with PDVSA,” the ONGC official said. Reuters quoted two sources to inform that PDVSA had made no payment since April on a $540 million dividends backlog to ONGC for an investment the Indian firm made in an energy project in Venezuela. Last week Venezuela's PDVSA had made an overdue $1.1 billion principal payment, Bloomberg said even as President Maduro attracted international attention from creditors and domestic audience for his handling of the economic crisis. Venezuela's Electricidad de Caracas - a state-owned electric company had defaulted on a $650 million bond payment, Wilmington Trust had said last Friday. The OPEC member’s economy has collapsed since global oil prices plummeted in 2014. Venezuela depends on oil for more than 90 per cent of export revenue.

Venezuela's state-run oil firm PDVSA misses debt payment to ONGC

Venezuela on Friday called foreign creditors to a November 13 meeting in Caracas aiming to restructure its estimated $150 billion debt, as credit-rating agencies dealt the crisis-stricken country another blow with double downgrades.

Standard &amp; Poor&#39;s cut the nation&#39;s long-term foreign currency rating to &quot;CC&quot; from &quot;CCC-&quot; over growing concerns of the risk of a debt default in the oil-producing country, while fellow agency Fitch cut the long-term debt rating to &quot;C&quot; from &quot;CC.&quot;

The increasingly dire warnings followed President Nicolas Maduro&#39;s calls to &quot;investors across the whole world and to holders of Venezuelan debt&quot; &nbsp;to attend a Caracas meeting November 13 &quot;to start a process to refinance and renegotiate the external debt.&quot;

His vice president, Tareck El Aissami, who is leading a commission tasked with the restructuring, said the government is seeking &quot;sovereign commitments&quot; for a debt renegotiation.

Flanked by the ministers in charge of the economy, finance, and energy, El Aissami confirmed the country had on Friday started to pay out $1.2 billion due to service the debt of state oil company PDVSA.

Maduro announced Thursday that Venezuela would begin talks to refinance the debt immediately after that payment was made.

El Aissami, one of the Venezuelan officials sanctioned by the United States due to alleged ties to drug trafficking, said the talks with creditors will &quot;establish the groundwork to renegotiate the terms of the foreign debt of the Republic and of PDVSA.&quot;

&quot;We will begin a sovereign renegotiation of our debt and we will continue to comply fully, transparently, as our government has done historically,&quot; he said in a televised statement.

He noted that since 2014 Venezuela, which has the largest proven crude oil reserves in the world, has paid nearly $72 billion in principal and interest payments on the debt.

Blasting US sanctions&nbsp;

Maduro has repeatedly blamed the United States for the country&#39;s woes, saying Washington is trying to strangle Venezuela with sanctions.

US sanctions imposed on Venezuela in August ban US trade in any new bonds issued by the Venezuelan government or PDVSA&nbsp;a needed step in any restructuring.

El Aissami denounced the &quot;continued aggression, permanent sabotage, blockade and financial persecution&quot; he said US President Donald Trump has imposed on the people of Venezuela. But he said the sanctions really hurt bondholders and financial institutions.

Much of Venezuela&#39;s debt is held by China and Russia, to be paid off in oil the resource that underpins the Venezuelan economy. The country has less than $10 billion in foreign currency reserves.

Analysts were pessimistic about Venezuela&#39;s chances of successfully restructuring its debt.

&quot;Venezuela&#39;s options to keep up with its payments are shrinking rapidly, mainly because any restructuring needs to be matched with clear and credible economic reforms capable of winning the trust and support of bond-holders,&quot; said Diego Moya-Ocampos, an analyst at London-based IHS Markit.

Another analyst, Asdrubal Oliveros, director of Ecoanalitica in Caracas, said that while investors had anticipated a debt renegotiation, they wanted &quot;a plan of restructuring and reorganization, of putting accounts in order -- this isn&#39;t that plan.&quot;

Sinking economy&nbsp;

According to estimates by private consultancies, Venezuela has a debt mountain of $150 billion, of which $45 billion is public debt, $45 billion is owed by PDVSA, $23 billion is owed to China, and $8 billion is owed to Russia.

A default could see investors try to lay claim to PDVSA assets, including tankers, oil in shipment and subsidiaries such as the Citgo refinery and service station network in the US.

&quot;The government has mortgaged the future of Venezuelans in an irresponsible way,&quot; said Stalin Gonzalez, head of a grouping of opposition lawmakers who dominate Venezuela&#39;s parliament.

Venezuela&#39;s economy is in dire shape, shrinking by 36 percent in the past four years, according to the International Monetary Fund (IMF), and is now suffering hyperinflation estimated to top 2,300 percent next year.

Production of its primary resource, oil, is declining, in large part because of rundown PDVSA infrastructure and neglected fields.

The IMF on Friday sanctioned Venezuela for not providing economic data as required of all its 189 member states. The move carries no financial penalty but is another sign of Venezuela&#39;s strained relations with the fund.&nbsp;

Venezuela was failing to give data on the operations of the social security institute, exports and imports, and other key economic indicators, the Washington-based lender said.

Venezuela on Friday called foreign creditors to a November 13 meeting in Caracas aiming to restructure its estimated $150 billion debt, as credit-rating agencies dealt the crisis-stricken country another blow with double downgrades

Venezuela on Friday called foreign creditors to a November 13 meeting in Caracas aiming to restructure its estimated $150 billion debt, as credit-rating agencies dealt the crisis-stricken country another blow with double downgrades. Standard & Poor's cut the nation's long-term foreign currency rating to "CC" from "CCC-" over growing concerns of the risk of a debt default in the oil-producing country, while fellow agency Fitch cut the long-term debt rating to "C" from "CC." The increasingly dire warnings followed President Nicolas Maduro's calls to "investors across the whole world and to holders of Venezuelan debt" to attend a Caracas meeting November 13 "to start a process to refinance and renegotiate the external debt." His vice president, Tareck El Aissami, who is leading a commission tasked with the restructuring, said the government is seeking "sovereign commitments" for a debt renegotiation. Flanked by the ministers in charge of the economy, finance, and energy, El Aissami confirmed the country had on Friday started to pay out $1.2 billion due to service the debt of state oil company PDVSA. Maduro announced Thursday that Venezuela would begin talks to refinance the debt immediately after that payment was made. El Aissami, one of the Venezuelan officials sanctioned by the United States due to alleged ties to drug trafficking, said the talks with creditors will "establish the groundwork to renegotiate the terms of the foreign debt of the Republic and of PDVSA." "We will begin a sovereign renegotiation of our debt and we will continue to comply fully, transparently, as our government has done historically," he said in a televised statement. He noted that since 2014 Venezuela, which has the largest proven crude oil reserves in the world, has paid nearly $72 billion in principal and interest payments on the debt. Blasting US sanctions Maduro has repeatedly blamed the United States for the country's woes, saying Washington is trying to strangle Venezuela with sanctions. US sanctions imposed on Venezuela in August ban US trade in any new bonds issued by the Venezuelan government or PDVSA a needed step in any restructuring. El Aissami denounced the "continued aggression, permanent sabotage, blockade and financial persecution" he said US President Donald Trump has imposed on the people of Venezuela. But he said the sanctions really hurt bondholders and financial institutions. Much of Venezuela's debt is held by China and Russia, to be paid off in oil the resource that underpins the Venezuelan economy. The country has less than $10 billion in foreign currency reserves. Analysts were pessimistic about Venezuela's chances of successfully restructuring its debt. "Venezuela's options to keep up with its payments are shrinking rapidly, mainly because any restructuring needs to be matched with clear and credible economic reforms capable of winning the trust and support of bond-holders," said Diego Moya-Ocampos, an analyst at London-based IHS Markit. Another analyst, Asdrubal Oliveros, director of Ecoanalitica in Caracas, said that while investors had anticipated a debt renegotiation, they wanted "a plan of restructuring and reorganization, of putting accounts in order -- this isn't that plan." Sinking economy According to estimates by private consultancies, Venezuela has a debt mountain of $150 billion, of which $45 billion is public debt, $45 billion is owed by PDVSA, $23 billion is owed to China, and $8 billion is owed to Russia. A default could see investors try to lay claim to PDVSA assets, including tankers, oil in shipment and subsidiaries such as the Citgo refinery and service station network in the US. "The government has mortgaged the future of Venezuelans in an irresponsible way," said Stalin Gonzalez, head of a grouping of opposition lawmakers who dominate Venezuela's parliament. Venezuela's economy is in dire shape, shrinking by 36 percent in the past four years, according to the International Monetary Fund (IMF), and is now suffering hyperinflation estimated to top 2,300 percent next year. Production of its primary resource, oil, is declining, in large part because of rundown PDVSA infrastructure and neglected fields. The IMF on Friday sanctioned Venezuela for not providing economic data as required of all its 189 member states. The move carries no financial penalty but is another sign of Venezuela's strained relations with the fund. Venezuela was failing to give data on the operations of the social security institute, exports and imports, and other key economic indicators, the Washington-based lender said.

Stalked by default fears, Venezuela calls creditor meeting

Venezuela accused the United States on Monday of &quot;psychological terrorism&quot; designed to bring down the government after it was included in a list of eight countries targeted by a travel ban.

&quot;As if it mattered to us to have a visa for the United States. I only go to the United States if I have to go to the UN, to the OAS,&quot; President Nicolas Maduro said, referring to the Organization of American States.

Speaking at a meeting with governors broadcast by state television VTV, Maduro said US President Donald Trump has &quot;isolated the United States&quot; with his speech at the United Nations General Assembly last week, in which he called the Venezuelan leader a &quot;dictator.&quot;

He was speaking a day after Venezuela was added to a new list of countries targeted by the US ban, due to what it called poor security and a lack of cooperation with American authorities.

The restrictions on Venezuela were limited to officials from a list of government agencies and their families, while full travel bans were placed on nationals from the other seven countries, including Chad and North Korea.

Earlier, Foreign Minister Jorge Arreaza described Trump as acting like &quot;the world&#39;s emperor.&quot;

Amid an escalating war of words, Arreaza told the UN General Assembly that Venezuela would seek dialogue with Washington to &quot;stop the madness and irrationality.&quot;

Last week, he accused Trump of being &quot;racist and supremacist&quot; after the US leader told the annual UN gathering that the US was ready to act to restore Venezuela&#39;s democracy.

&quot;As a free people, we are ready to defend our sovereignty, our independence and our democracy in any scenario and in any way,&quot; Arreaza said.

In a short statement to reporters following his speech, he added: &quot;I insist, if they attack us on the ground, we will respond forcefully in the defense of our country and of our people.&quot;

His foreign ministry said that &quot;these types of lists... are incompatible with international law and constitute in themselves a form of psychological and political terrorism.&quot;

Most of the nations affected by the US ban were part of a measure targeting Muslim countries that Trump authorized shortly after taking office.

Maduro&#39;s socialist government said Washington was using the fight against terrorism for its own political ends.

The foreign ministry statement said the ban was seeking to &quot;stigmatize&quot; Venezuela &quot;under the pretext of combating terrorism, by including it in a unilaterally drawn-up list and accusing other states of being alleged promoters of this terrible scourge.&quot;

It rejected &quot;the irrational decision of the United States government to once again catalog the noble Venezuelan people as a threat to their national security.&quot;

Venezuela has been rocked by months of economic chaos and deadly protests as Maduro tries to consolidate control, including through a new Constituent Assembly that has wrested power from the opposition-dominated legislature.

OAS Secretary General Luis Almagro called for additional sanctions against the Maduro government, denouncing what he called the &quot;consolidation of the dictatorial regime in Venezuela.&quot;

His organization&#39;s fourth report on the Venezuelan political crisis says that democracy was &quot;completely eliminated&quot; when the &quot;illegitimate&quot; Constituent Assembly was established on July 30.

Most of the nations affected by the US ban were part of a measure targeting Muslim countries that Trump authorized shortly after taking office

Venezuela accused the United States on Monday of "psychological terrorism" designed to bring down the government after it was included in a list of eight countries targeted by a travel ban. "As if it mattered to us to have a visa for the United States. I only go to the United States if I have to go to the UN, to the OAS," President Nicolas Maduro said, referring to the Organization of American States. Speaking at a meeting with governors broadcast by state television VTV, Maduro said US President Donald Trump has "isolated the United States" with his speech at the United Nations General Assembly last week, in which he called the Venezuelan leader a "dictator." He was speaking a day after Venezuela was added to a new list of countries targeted by the US ban, due to what it called poor security and a lack of cooperation with American authorities. The restrictions on Venezuela were limited to officials from a list of government agencies and their families, while full travel bans were placed on nationals from the other seven countries, including Chad and North Korea. Earlier, Foreign Minister Jorge Arreaza described Trump as acting like "the world's emperor." Amid an escalating war of words, Arreaza told the UN General Assembly that Venezuela would seek dialogue with Washington to "stop the madness and irrationality." Last week, he accused Trump of being "racist and supremacist" after the US leader told the annual UN gathering that the US was ready to act to restore Venezuela's democracy. "As a free people, we are ready to defend our sovereignty, our independence and our democracy in any scenario and in any way," Arreaza said. In a short statement to reporters following his speech, he added: "I insist, if they attack us on the ground, we will respond forcefully in the defense of our country and of our people." His foreign ministry said that "these types of lists... are incompatible with international law and constitute in themselves a form of psychological and political terrorism." Most of the nations affected by the US ban were part of a measure targeting Muslim countries that Trump authorized shortly after taking office. Maduro's socialist government said Washington was using the fight against terrorism for its own political ends. The foreign ministry statement said the ban was seeking to "stigmatize" Venezuela "under the pretext of combating terrorism, by including it in a unilaterally drawn-up list and accusing other states of being alleged promoters of this terrible scourge." It rejected "the irrational decision of the United States government to once again catalog the noble Venezuelan people as a threat to their national security." Venezuela has been rocked by months of economic chaos and deadly protests as Maduro tries to consolidate control, including through a new Constituent Assembly that has wrested power from the opposition-dominated legislature. OAS Secretary General Luis Almagro called for additional sanctions against the Maduro government, denouncing what he called the "consolidation of the dictatorial regime in Venezuela." His organization's fourth report on the Venezuelan political crisis says that democracy was "completely eliminated" when the "illegitimate" Constituent Assembly was established on July 30.

New US travel ban 'psychological terrorism': Venezuela

At least 37 people died in an hours-long jail riot in Venezuela&#39;s southern state of Amazonas, officials said Wednesday.

The prosecutors&#39; office said an investigation had been launched into &quot;the deaths of 37 people&quot; in the facility in the town of Puerto Ayacucho.

Governor Liborio Guarulla had earlier tweeted that a &quot;massacre&quot; took place with at least 35 corpses counted.

&nbsp;

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Los datos q hasta ahora manejamos de la masacre en el CEDJA: 37 fallecidos, 61 vivos (28 traslado a Apure 33 PYH), 4 heridos 1 fugado. T=103 <a href="https://t.co/8WmguLqBa7">pic.twitter.com/8WmguLqBa7</a>
&mdash; Liborio Guarulla (@LiborioGuarulla) <a href="https://twitter.com/LiborioGuarulla/status/897980729577136128">August 17, 2017</a></blockquote>
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Prosecutors said 14 officials were wounded in the violence which ran from Tuesday into early Wednesday, but did not say if any were among the dead.

Two prison-monitoring groups, A Window to Freedom and the Venezuelan Prisons Observatory, said the 37 killed were all inmates.

&quot;This is the worst riot we&#39;ve had in a preventative detention facility,&quot; Carlos Nieto of A Window to Freedom told AFP.

&quot;In this one, detainees are only supposed to be held for up to 48 hours, but there were prisoners who have been there for years,&quot; he said.

The jail was holding 105 prisoners at the time of the riot, Guarulla said.

The deadliest riot in a prison in Venezuela was in 2013, when 60 people died and more than 150 were wounded in a facility in Uribana, in the western state of Lara.

At the end of last year, the country had 88,000 detainees, more than double the official holding capacity of 35,000 places, according to A Window to Freedom. So some 33,000 convicted prisoners were being kept in preventative centers like the one in Puerto Ayacucho, alongside people awaiting trial, Nieto said.

Prosecutors said 14 officials were wounded in the violence which ran from Tuesday into early Wednesday

At least 37 people died in an hours-long jail riot in Venezuela's southern state of Amazonas, officials said Wednesday. The prosecutors' office said an investigation had been launched into "the deaths of 37 people" in the facility in the town of Puerto Ayacucho. Governor Liborio Guarulla had earlier tweeted that a "massacre" took place with at least 35 corpses counted. Los datos q hasta ahora manejamos de la masacre en el CEDJA: 37 fallecidos, 61 vivos (28 traslado a Apure 33 PYH), 4 heridos 1 fugado. T=103 pic.twitter.com/8WmguLqBa7 — Liborio Guarulla (@LiborioGuarulla) August 17, 2017 × Prosecutors said 14 officials were wounded in the violence which ran from Tuesday into early Wednesday, but did not say if any were among the dead. Two prison-monitoring groups, A Window to Freedom and the Venezuelan Prisons Observatory, said the 37 killed were all inmates. "This is the worst riot we've had in a preventative detention facility," Carlos Nieto of A Window to Freedom told AFP. "In this one, detainees are only supposed to be held for up to 48 hours, but there were prisoners who have been there for years," he said. The jail was holding 105 prisoners at the time of the riot, Guarulla said. The deadliest riot in a prison in Venezuela was in 2013, when 60 people died and more than 150 were wounded in a facility in Uribana, in the western state of Lara. At the end of last year, the country had 88,000 detainees, more than double the official holding capacity of 35,000 places, according to A Window to Freedom. So some 33,000 convicted prisoners were being kept in preventative centers like the one in Puerto Ayacucho, alongside people awaiting trial, Nieto said.

Venezuela: At least 37 killed in jail riot massacre

The UN decried Tuesday &quot;widespread and systematic use of excessive force&quot; against demonstrators in Venezuela, saying security forces and pro-government groups were responsible for at least 73 protester deaths.

Presenting the preliminary findings from an investigation conducted in June and July, the UN rights office described &quot;a picture of the widespread and systematic use of excessive force and arbitrary detentions against demonstrators in Venezuela.&quot;&nbsp;

&quot;Witness accounts suggest that security forces, mainly the National Guard, the National Police and local police forces, have systematically used disproportionate force to instil fear, crush dissent, and to prevent demonstrators from assembling, rallying and reaching public institutions to present petitions,&quot; the rights office said in a statement.

&quot;Government authorities have rarely condemned such incidents,&quot; it stressed.

Venezuela, which is suffering from an acute economic crisis marked by shortages of basic goods, has experienced four months of street demonstrations against President Nicolas Maduro that have left 125 people dead.

After receiving no response to repeated requests for access to Venezuela to investigate the situation in the country, UN rights chief Zeid Ra&#39;ad Al Hussein deployed a team of human rights officers to monitor the country remotely.

The investigators conducted 135 interviews between June 6 and July 31 with victims and their families, witnesses, civil society organisations, journalists, lawyers and doctors, among others.

&quot;Since the wave of demonstrations began in April, there has been a clear pattern of excessive force used against protesters,&quot; Zeid said in the statement.

&#39;Degrading treatment&#39;

&quot;Several thousand people have been arbitrarily detained, many reportedly subjected to ill-treatment and even torture, while several hundred have been brought before military rather than civilian courts,&quot; he said, stressing that &quot;these patterns show no signs of abating.&quot;

According to the preliminary findings, security forces were allegedly responsible for at least 46 of the protester deaths, while pro-government armed groups were behind 27.

It remained unclear who was behind the remaining deaths, the rights office said.

At the same time, nearly 2,000 people have been injured, while more than 5,050 people have been arbitrarily arrested, with over 1,000 reportedly still in detention, it said.

The rights office also decried &quot;credible reports of cruel, inhuman or degrading treatment by security forces of such detainees, amounting in several cases to torture,&quot; saying tactics included &quot;electric shocks, beatings.., suffocation with gas, and threats of killings, and in some cases threats of sexual violence.&quot;

Zeid warned that &quot;these violations have occurred amid the breakdown of the rule of law in Venezuela, with constant attacks by the Government against the National Assembly and the Attorney-General&rsquo;s Office.&quot;&nbsp;

&quot;The responsibility for the human rights violations we are recording lies at the highest levels of government,&quot; he said.

Venezuela, which is suffering from an acute economic crisis marked by shortages of basic goods, has experienced four months of street demonstrations against President Nicolas Maduro that have left 125 people dead

The UN decried Tuesday "widespread and systematic use of excessive force" against demonstrators in Venezuela, saying security forces and pro-government groups were responsible for at least 73 protester deaths. Presenting the preliminary findings from an investigation conducted in June and July, the UN rights office described "a picture of the widespread and systematic use of excessive force and arbitrary detentions against demonstrators in Venezuela." "Witness accounts suggest that security forces, mainly the National Guard, the National Police and local police forces, have systematically used disproportionate force to instil fear, crush dissent, and to prevent demonstrators from assembling, rallying and reaching public institutions to present petitions," the rights office said in a statement. "Government authorities have rarely condemned such incidents," it stressed. Venezuela, which is suffering from an acute economic crisis marked by shortages of basic goods, has experienced four months of street demonstrations against President Nicolas Maduro that have left 125 people dead. After receiving no response to repeated requests for access to Venezuela to investigate the situation in the country, UN rights chief Zeid Ra'ad Al Hussein deployed a team of human rights officers to monitor the country remotely. The investigators conducted 135 interviews between June 6 and July 31 with victims and their families, witnesses, civil society organisations, journalists, lawyers and doctors, among others. "Since the wave of demonstrations began in April, there has been a clear pattern of excessive force used against protesters," Zeid said in the statement. 'Degrading treatment' "Several thousand people have been arbitrarily detained, many reportedly subjected to ill-treatment and even torture, while several hundred have been brought before military rather than civilian courts," he said, stressing that "these patterns show no signs of abating." According to the preliminary findings, security forces were allegedly responsible for at least 46 of the protester deaths, while pro-government armed groups were behind 27. It remained unclear who was behind the remaining deaths, the rights office said. At the same time, nearly 2,000 people have been injured, while more than 5,050 people have been arbitrarily arrested, with over 1,000 reportedly still in detention, it said. The rights office also decried "credible reports of cruel, inhuman or degrading treatment by security forces of such detainees, amounting in several cases to torture," saying tactics included "electric shocks, beatings.., suffocation with gas, and threats of killings, and in some cases threats of sexual violence." Zeid warned that "these violations have occurred amid the breakdown of the rule of law in Venezuela, with constant attacks by the Government against the National Assembly and the Attorney-General’s Office." "The responsibility for the human rights violations we are recording lies at the highest levels of government," he said.

UN slams 'widespread and systematic use of excessive force' in Venezuela

Venezuelan President Nicolas Maduro was to install a powerful new assembly of his allies on Friday, dismissing an international outcry and opposition protests saying he is burying democracy in his country.

The Constituent Assembly, elected last weekend in a vote marred by violence and allegations of fraud, will sit in a chamber in the Legislative Palace in Caracas, where the opposition-controlled legislature is located.

The inaugural session of its 500 plus members who include Maduro&#39;s wife and son will take place under high tension.

The opposition has called a mass march in the capital, raising fears of violence that could add to a death toll of more than 125 over the past four months.

&quot;Let there be no provocations, nor should people fall into provocations,&quot; Maduro said late Thursday as he assured all was ready for the Constituent Assembly.

Unlimited powers&nbsp;

The body marks a new stage in Venezuela&#39;s rule.

With unlimited powers to dissolve the National Assembly or amend laws, the new body is tasked with rewriting the 1999 constitution brought in under Maduro&#39;s late mentor and predecessor, Hugo Chavez.

Maduro claims its work will yank Venezuela out of its worsening spiral of political and economic crisis, though he has not detailed how. Nor has he given an end-date for the Constituent Assembly, which he said would operate for years.

The body is being challenged on several fronts.

Backing opposition allegations of fraud, Smartmatic, a British-based company involved in the vote technology behind the election last Sunday, said the official turnout figure had been tampered with and exaggerated by at least a million voters.

Although brushed off by Maduro as part of a plot by &quot;the international enemy,&quot; that gave grounds for Venezuelan Attorney General Luisa Ortega, a thorn in Maduro&#39;s side, &nbsp;to order an investigation. 
She said prosecutors had lodged court cases seeking to have the Constituent Assembly annulled, though few in Venezuela believed that would be achieved.

The country&#39;s supreme court has systematically sided with the president in blocking prosecutorial or legislative gambits against the government.

Defiance&nbsp;

Using his daily appearances on state television, Maduro has lashed out at several of the 40 countries that admonished him for seeing through the creation of the new assembly.

After being hit with US sanctions and called a dictator by US President Donald Trump, Maduro said defiantly that he was standing up to what he called imperialism.

The Venezuelan leader also slammed Mexico, Chile, and Peru as American vassals for saying they would not recognize the new assembly.

But with the European Union and other nations also condemning the Constituent Assembly, Maduro is fighting against a broad tide, even if he has the support of Russia, which holds billions in Venezuelan debt, as well as Cuba, Bolivia and Nicaragua.

Diving currency&nbsp;

The uncertainty and unease surrounding the path Maduro has set Venezuela on has been reflected in an accelerating depreciation of the country&#39;s already debilitated currency, the bolivar.

It lost more than 17 per cent of its value against the dollar on Thursday, placing scarce imported food and medicine further out of reach for many Venezuelans.

One analyst, Luis Salamanca, said the new assembly &quot;is being born badly, but Maduro doesn&#39;t care. He just wants a Constituent Assembly that suits him.&quot;

According to Datanalisis, a polling firm, 72 per cent of Venezuelans reject the assembly. And 80 per cent reject Maduro&#39;s leadership.

But the president enjoys the backing of the military, as well as judicial and electoral authorities, allowing him to forge on. &quot;More than changing the constitution, the main goal is to govern without limits,&quot; said another analyst, Benigno Alarcon.

With unlimited powers to dissolve the National Assembly or amend laws, the new body is tasked with rewriting the 1999 constitution brought in under Maduro's late mentor and predecessor, Hugo Chavez

Venezuelan President Nicolas Maduro was to install a powerful new assembly of his allies on Friday, dismissing an international outcry and opposition protests saying he is burying democracy in his country. The Constituent Assembly, elected last weekend in a vote marred by violence and allegations of fraud, will sit in a chamber in the Legislative Palace in Caracas, where the opposition-controlled legislature is located. The inaugural session of its 500 plus members who include Maduro's wife and son will take place under high tension. The opposition has called a mass march in the capital, raising fears of violence that could add to a death toll of more than 125 over the past four months. "Let there be no provocations, nor should people fall into provocations," Maduro said late Thursday as he assured all was ready for the Constituent Assembly. Unlimited powers The body marks a new stage in Venezuela's rule. With unlimited powers to dissolve the National Assembly or amend laws, the new body is tasked with rewriting the 1999 constitution brought in under Maduro's late mentor and predecessor, Hugo Chavez. Maduro claims its work will yank Venezuela out of its worsening spiral of political and economic crisis, though he has not detailed how. Nor has he given an end-date for the Constituent Assembly, which he said would operate for years. The body is being challenged on several fronts. Backing opposition allegations of fraud, Smartmatic, a British-based company involved in the vote technology behind the election last Sunday, said the official turnout figure had been tampered with and exaggerated by at least a million voters. Although brushed off by Maduro as part of a plot by "the international enemy," that gave grounds for Venezuelan Attorney General Luisa Ortega, a thorn in Maduro's side, to order an investigation. She said prosecutors had lodged court cases seeking to have the Constituent Assembly annulled, though few in Venezuela believed that would be achieved. The country's supreme court has systematically sided with the president in blocking prosecutorial or legislative gambits against the government. Defiance Using his daily appearances on state television, Maduro has lashed out at several of the 40 countries that admonished him for seeing through the creation of the new assembly. After being hit with US sanctions and called a dictator by US President Donald Trump, Maduro said defiantly that he was standing up to what he called imperialism. The Venezuelan leader also slammed Mexico, Chile, and Peru as American vassals for saying they would not recognize the new assembly. But with the European Union and other nations also condemning the Constituent Assembly, Maduro is fighting against a broad tide, even if he has the support of Russia, which holds billions in Venezuelan debt, as well as Cuba, Bolivia and Nicaragua. Diving currency The uncertainty and unease surrounding the path Maduro has set Venezuela on has been reflected in an accelerating depreciation of the country's already debilitated currency, the bolivar. It lost more than 17 per cent of its value against the dollar on Thursday, placing scarce imported food and medicine further out of reach for many Venezuelans. One analyst, Luis Salamanca, said the new assembly "is being born badly, but Maduro doesn't care. He just wants a Constituent Assembly that suits him." According to Datanalisis, a polling firm, 72 per cent of Venezuelans reject the assembly. And 80 per cent reject Maduro's leadership. But the president enjoys the backing of the military, as well as judicial and electoral authorities, allowing him to forge on. "More than changing the constitution, the main goal is to govern without limits," said another analyst, Benigno Alarcon.

President Maduro to install new assembly amid protests by opposition

Venezuela&#39;s president rejected accusations on Wednesday that his government inflated turnout figures from its constituent assembly election, branding them part of an effort to stain what he called a clean and transparent vote.

The company that provides the country&#39;s voting machines said that the government&#39;s claim that 8.1 million votes were cast in Sunday&#39;s poll overestimated the tally by at least 1 million.

President Nicolas Maduro also criticized the accuracy of a story reported by Reuters that only 3.7 million people had voted by 5:30 pm&nbsp;on Sunday, according to internal electoral council documents, compared with the total 8.1 million ballots counted by authorities.

The documents, which break the data down into Venezuela&#39;s 14,515 polling centers, show that 3,720,465 people had voted by 5.30 pm.

Voting ended at 7 pm&nbsp;and election experts said doubling the vote in the last hour and a half would be unlikely.

&quot;We stand by our story,&quot; Reuters global communications chief Abbe Serphos said in an email.

Maduro was defiant.

&quot;This election cannot be stained by anyone, because it was a transparent vote, audited before, during and after the ballots were cast,&quot; he told a televised gathering of supporters.

Electronic voting technology firm Smartmatic, which created the voting system that Venezuela has used since 2004, said the turnout figures had been tampered with.

&quot;We know, without any doubt, that the turnout of the recent election for a National Constituent Assembly was manipulated,&quot; said Smartmatic Chief Executive Antonio Mugica in a press briefing in London, without providing details of the company&#39;s methodology.

&quot;We estimate the difference between the actual participation and the one announced by authorities is at least 1 million votes,&quot; he said.

The opposition, which boycotted the vote, has dismissed the official tally as fraudulent. A high turnout was seen as crucial for leftist Maduro to legitimize the election in the face of wide international criticism.

The assembly will have the power to dissolve the opposition-run congress and is expected to sack the country&#39;s chief prosecutor, who has harshly criticized Maduro this year.

Maduro on Wednesday said the newly-minted superbody will also have the power to strip members of congress of their immunity from prosecution. On Tuesday security forces jailed two of Maduro&#39;s leading critics in a fresh blow to the opposition.

Countries around the world have condemned the assembly as a bid to indefinitely extend Maduro&#39;s rule. He is widely criticized for an economic crisis marked by triple-digit inflation and chronic shortages of food and medicine.

Oil Workers March

Maduro says the assembly is necessary to give him the powers needed to bring peace to the country after more than four months of opposition protests punctuated by violent clashes between security forces and hooded demonstrators. More than 120 people have been killed since the unrest began in April.

Maduro said delegates of the 545-member assembly will have their first official session on Friday. The opposition called for a new round of protests on Thursday.

Congress has promised to continue holding sessions despite the election of the new assembly. Last month it also named alternate justices to the Supreme Court in defiance of the top court, which has heavily favored Maduro.

Authorities arrested three of those justices, and four others have taken refuge in the residence of the Chilean ambassador in Caracas.

The United States this week called Maduro a dictator, froze his US&nbsp;assets, and barred Americans from doing business with him. Maduro, like his predecessor and mentor, the late Hugo Chavez, regularly laughs off criticism from Washington even though the United States is Venezuela&#39;s top crude importer.

The European Union said it was mulling a &quot;whole range of actions&quot; on Venezuela. But Maduro continues to enjoy public backing from the Venezuela&#39;s military, though soldiers are increasingly weary of the popular backlash against their role in quelling protests.

Oil workers, whom Maduro considers a bedrock of support, rallied in several energy producing regions of the country on Wednesday.

Chanting and carrying the red Socialist Party flag, they denounced sanctions on the leftist president.

&quot;We are here to show our rejection of the intervention of the United States,&quot; one demonstrator said during a televised rally, calling the sanctions &quot;a political show with harmful economic consequences for the people of Venezuela.&quot;

The opposition, which boycotted the vote, has dismissed the official tally as fraudulent

Venezuela's president rejected accusations on Wednesday that his government inflated turnout figures from its constituent assembly election, branding them part of an effort to stain what he called a clean and transparent vote. The company that provides the country's voting machines said that the government's claim that 8.1 million votes were cast in Sunday's poll overestimated the tally by at least 1 million. President Nicolas Maduro also criticized the accuracy of a story reported by Reuters that only 3.7 million people had voted by 5:30 pm on Sunday, according to internal electoral council documents, compared with the total 8.1 million ballots counted by authorities. The documents, which break the data down into Venezuela's 14,515 polling centers, show that 3,720,465 people had voted by 5.30 pm. Voting ended at 7 pm and election experts said doubling the vote in the last hour and a half would be unlikely. "We stand by our story," Reuters global communications chief Abbe Serphos said in an email. Maduro was defiant. "This election cannot be stained by anyone, because it was a transparent vote, audited before, during and after the ballots were cast," he told a televised gathering of supporters. Electronic voting technology firm Smartmatic, which created the voting system that Venezuela has used since 2004, said the turnout figures had been tampered with. "We know, without any doubt, that the turnout of the recent election for a National Constituent Assembly was manipulated," said Smartmatic Chief Executive Antonio Mugica in a press briefing in London, without providing details of the company's methodology. "We estimate the difference between the actual participation and the one announced by authorities is at least 1 million votes," he said. The opposition, which boycotted the vote, has dismissed the official tally as fraudulent. A high turnout was seen as crucial for leftist Maduro to legitimize the election in the face of wide international criticism. The assembly will have the power to dissolve the opposition-run congress and is expected to sack the country's chief prosecutor, who has harshly criticized Maduro this year. Maduro on Wednesday said the newly-minted superbody will also have the power to strip members of congress of their immunity from prosecution. On Tuesday security forces jailed two of Maduro's leading critics in a fresh blow to the opposition. Countries around the world have condemned the assembly as a bid to indefinitely extend Maduro's rule. He is widely criticized for an economic crisis marked by triple-digit inflation and chronic shortages of food and medicine. Oil Workers March Maduro says the assembly is necessary to give him the powers needed to bring peace to the country after more than four months of opposition protests punctuated by violent clashes between security forces and hooded demonstrators. More than 120 people have been killed since the unrest began in April. Maduro said delegates of the 545-member assembly will have their first official session on Friday. The opposition called for a new round of protests on Thursday. Congress has promised to continue holding sessions despite the election of the new assembly. Last month it also named alternate justices to the Supreme Court in defiance of the top court, which has heavily favored Maduro. Authorities arrested three of those justices, and four others have taken refuge in the residence of the Chilean ambassador in Caracas. The United States this week called Maduro a dictator, froze his US assets, and barred Americans from doing business with him. Maduro, like his predecessor and mentor, the late Hugo Chavez, regularly laughs off criticism from Washington even though the United States is Venezuela's top crude importer. The European Union said it was mulling a "whole range of actions" on Venezuela. But Maduro continues to enjoy public backing from the Venezuela's military, though soldiers are increasingly weary of the popular backlash against their role in quelling protests. Oil workers, whom Maduro considers a bedrock of support, rallied in several energy producing regions of the country on Wednesday. Chanting and carrying the red Socialist Party flag, they denounced sanctions on the leftist president. "We are here to show our rejection of the intervention of the United States," one demonstrator said during a televised rally, calling the sanctions "a political show with harmful economic consequences for the people of Venezuela."

Venezuela: President Maduro rejects accusations of election fraud

Venezuelan soldiers are increasingly weary of the popular backlash against their role in quelling anti-government protests and all eyes are on the military to see if it will remain loyal to President Nicolas Maduro.

Nearly five months of demonstrations failed to stop Maduro carrying out a weekend vote for a Constitutional Assembly that opponents say will cement his dictatorship in the OPEC nation.

The opposition is now looking towards the military to see if it will turn against the government and pressure Maduro to enact its demands, which include presidential elections.

More than 120 people have been killed in the protests, drawing international condemnation of the security forces&#39; heavy-handed tactics.

In an unofficial referendum last month, the opposition asked Venezuelans whether the military should defend the current Constitution and the National Assembly, which is expected to be dissolved by the Constitutional Assembly, in an apparent attempt to exert public pressure on the armed forces.

There are signs of fatigue and division among troops who face constant street confrontations that frequently include volleys of rocks, Molotov cocktails, and even human excrement. Soldiers chafe under the negative public opinion of the security forces caused by the crackdown.

&quot;If we do not defend the regime, we are traitors and our careers are ruined. If we defend the government, we become enemies of the people,&quot; said a 40-year-old army sergeant major in the border city of San Cristobal with 18 years of service under his belt, asking not to be identified for fear of reprisal.

Protests appear poised to intensify after 10 people were killed in the weekend vote for the new legislative super body expected to give the ruling Socialist Party sweeping powers.

&#39;Contempt of the population&#39;

Like many others in the once prosperous South American country, members of the security forces struggle to eat properly because they earn just a few dollars a month, which is barely enough for a week&#39;s food.

Splits within the armed forces have been made evident since protests began with the detention of 123 members, including high-ranking officers, on charges ranging from treason and rebellion to theft and desertion.

&quot;In the past, a soldier was respected but now, after this period of degeneration, a soldier gets the contempt of the whole population,&quot; said a 33-year-old Air Force major, also asking his name not be revealed for fear of reprisal.

At least publicly, military leaders such as Defense Minister Vladimir Padrino remain firmly behind Maduro, appearing alongside him at near-daily political events and military parades.

The military has played a key role in government since former socialist leader Hugo Chavez, himself a former military officer, swept to power in 1999 promising to bring greater equality to the economy of the oil rich nation.

Top government posts ranging from ministerial positions to directors of state oil company PDVSA are held by former military officers, many of whom participated in a failed 1992 coup that made Chavez famous and fuelled his meteoric rise to power.

Chavez purged the armed forces of dissidents following a 2002 coup that briefly toppled him.

But it is nonetheless difficult to measure military loyalty to Maduro, and predictions of military rebellions or imminent coups have repeatedly turned out to be false.

The Defense Ministry did not immediately respond to an email seeking comment.

Maduro critics say the government&#39;s count in the constituent assembly vote was rigged and the final turnout exaggerated three fold.

Soldiers were in charge of voting stations and the election raised doubts among them about their role defending Maduro, according to Herbert Garcia, a former senior army general, and minister.

&quot;There is more division after Sunday. They saw it all,&quot; said Garcia, who broke away from Maduro&#39;s government in 2015 though maintains contact with some former colleagues.

There are signs of fatigue and division among troops who face constant street confrontations that frequently include volleys of rocks, Molotov cocktails, and even human excrement

Venezuelan soldiers are increasingly weary of the popular backlash against their role in quelling anti-government protests and all eyes are on the military to see if it will remain loyal to President Nicolas Maduro. Nearly five months of demonstrations failed to stop Maduro carrying out a weekend vote for a Constitutional Assembly that opponents say will cement his dictatorship in the OPEC nation. The opposition is now looking towards the military to see if it will turn against the government and pressure Maduro to enact its demands, which include presidential elections. More than 120 people have been killed in the protests, drawing international condemnation of the security forces' heavy-handed tactics. In an unofficial referendum last month, the opposition asked Venezuelans whether the military should defend the current Constitution and the National Assembly, which is expected to be dissolved by the Constitutional Assembly, in an apparent attempt to exert public pressure on the armed forces. There are signs of fatigue and division among troops who face constant street confrontations that frequently include volleys of rocks, Molotov cocktails, and even human excrement. Soldiers chafe under the negative public opinion of the security forces caused by the crackdown. "If we do not defend the regime, we are traitors and our careers are ruined. If we defend the government, we become enemies of the people," said a 40-year-old army sergeant major in the border city of San Cristobal with 18 years of service under his belt, asking not to be identified for fear of reprisal. Protests appear poised to intensify after 10 people were killed in the weekend vote for the new legislative super body expected to give the ruling Socialist Party sweeping powers. 'Contempt of the population' Like many others in the once prosperous South American country, members of the security forces struggle to eat properly because they earn just a few dollars a month, which is barely enough for a week's food. Splits within the armed forces have been made evident since protests began with the detention of 123 members, including high-ranking officers, on charges ranging from treason and rebellion to theft and desertion. "In the past, a soldier was respected but now, after this period of degeneration, a soldier gets the contempt of the whole population," said a 33-year-old Air Force major, also asking his name not be revealed for fear of reprisal. At least publicly, military leaders such as Defense Minister Vladimir Padrino remain firmly behind Maduro, appearing alongside him at near-daily political events and military parades. The military has played a key role in government since former socialist leader Hugo Chavez, himself a former military officer, swept to power in 1999 promising to bring greater equality to the economy of the oil rich nation. Top government posts ranging from ministerial positions to directors of state oil company PDVSA are held by former military officers, many of whom participated in a failed 1992 coup that made Chavez famous and fuelled his meteoric rise to power. Chavez purged the armed forces of dissidents following a 2002 coup that briefly toppled him. But it is nonetheless difficult to measure military loyalty to Maduro, and predictions of military rebellions or imminent coups have repeatedly turned out to be false. The Defense Ministry did not immediately respond to an email seeking comment. Maduro critics say the government's count in the constituent assembly vote was rigged and the final turnout exaggerated three fold. Soldiers were in charge of voting stations and the election raised doubts among them about their role defending Maduro, according to Herbert Garcia, a former senior army general, and minister. "There is more division after Sunday. They saw it all," said Garcia, who broke away from Maduro's government in 2015 though maintains contact with some former colleagues.

All eyes on Venezuela military after protests, vote

The United States hit Venezuelan President Nicolas Maduro with direct sanctions on Monday over a disputed and deadly weekend vote, calling him a &quot;dictator,&quot; while the leader refused to heed what he slammed as &quot;imperial orders.&quot;

The measures were unusual in that they targeted a sitting head of state, but their reach was mostly symbolic, freezing any US assets Maduro might have and banning people under US jurisdiction from dealing with him.

&quot;Yesterday&#39;s illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people,&quot; US Treasury Secretary Steven Mnuchin told reporters.

Maduro lashed out at the move, saying it smacked of American imperialism.

&quot;I will not obey imperial orders,&quot; he said.&nbsp; 
&quot;I am so proud, Mr. Donald Trump,&quot; Maduro joked in English, before switching to slang in Spanish: &quot;Go for it, already. I am being targeted with sanctions because I do not obey the orders of foreign governments.&quot;

Colombia, Mexico, Peru and other nations joined the US in saying they did not recognise the results of Sunday&#39;s election, which appointed a new &quot;Constituent Assembly&quot; superseding Venezuela&#39;s legislative body, the opposition-controlled National Assembly.

Maduro&#39;s own attorney general, Luisa Ortega, who broke with him months ago over his policies, also said she would not acknowledge the body, calling it part of the president&#39;s &quot;dictatorial ambition.&quot; 
The European Union expressed &quot;preoccupation for the fate of democracy in Venezuela&quot; and said it, too, doubted it could accept the results.

And Britain&#39;s Foreign Minister Boris Johnson warned that Venezuela &quot;stands on the brink of disaster.&quot;&nbsp; 
&quot;Nicolas Maduro&#39;s government must stop before it is too late,&quot; he said.

However, old allies Bolivia, Cuba, Nicaragua, and Russia stood by Maduro, who shrugged off mass protests and a previous round of US sanctions on some of his officials to see through the election.

Cuba, Venezuela&#39;s closest ally, charged that &quot;a well-organised international operation was under way, led from Washington, with the support of the OAS chief, aimed at silencing the voice of the Venezuelan people, and forcing them into submission with attacks and economic sanctions.&quot;&nbsp;

&nbsp;More protests&nbsp;

The National Electoral Council claimed more than 40 per cent of Venezuela&#39;s 20 million voters had cast ballots on Sunday.

According to the opposition, voter turnout was closer to 12 per cent, a figure more aligned with the lack of lines at many polling stations.

Surveys by polling firm Datanalisis showed more than 70 per cent of Venezuelans opposed the new assembly.

Further protests were called for Monday and beyond, stoking fears that the death toll of 120 people killed in four months of protests against Maduro could rise further.

&quot;I feel awful, frustrated with this fraud,&quot; said Caracas resident Giancarlo Fernandez, 35.

Demonstrators defied a ban on protests set by Maduro that threatened up to 10 years in prison for violators.

Ten people died in violence surrounding Sunday&#39;s election, which saw security forces fire tear gas and, in some cases, live ammunition to put down protests. Among those killed were two teens and a Venezuelan soldier.

Boycotted by the opposition, and voted for largely by state employees fearful for their jobs, the Constituent Assembly was made up solely of members of Maduro&#39;s ruling Socialist Party.

Tasked with writing a new constitution, it has far-reaching powers, including the right to dissolve the National Assembly and change laws.

It is due to be installed on Wednesday.

More sanctions?&nbsp;

The European Union condemned the &quot;excessive and disproportionate use of force&quot; by Venezuelan police and troops on Sunday.&nbsp;

A spokeswoman for the European Commission said &quot;A Constituent Assembly, elected under doubtful and often violent circumstances, cannot be part of the solution.&quot;

Russia, however, threw its weight behind Maduro and the election, backing the government turnout figure.&nbsp; 
The foreign ministry in Moscow said in a statement it hopes countries &quot;who apparently want to increase economic pressure on Caracas will display restraint and abandon their destructive plans.&quot;

Yet analysts agreed that Maduro&#39;s move had swept away any vestige of democracy in Venezuela.

&quot;Maduro&#39;s blatant power grab removes any ambiguity about whether Venezuela is a democracy,&quot; said Michael Shifter, head of the Inter-American Dialogue research center.

Venezuela&#39;s 30 million citizens are suffering through shortages of basic goods.&nbsp;

Sanctions against the all-important oil sector would worsen their situation, but could also destabilize the government, which is frenziedly printing money and running out of foreign currency reserves.

The Venezuela leader refused to heed to the US slamming it as 'imperial orders'

The United States hit Venezuelan President Nicolas Maduro with direct sanctions on Monday over a disputed and deadly weekend vote, calling him a "dictator," while the leader refused to heed what he slammed as "imperial orders." The measures were unusual in that they targeted a sitting head of state, but their reach was mostly symbolic, freezing any US assets Maduro might have and banning people under US jurisdiction from dealing with him. "Yesterday's illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people," US Treasury Secretary Steven Mnuchin told reporters. Maduro lashed out at the move, saying it smacked of American imperialism. "I will not obey imperial orders," he said. "I am so proud, Mr. Donald Trump," Maduro joked in English, before switching to slang in Spanish: "Go for it, already. I am being targeted with sanctions because I do not obey the orders of foreign governments." Colombia, Mexico, Peru and other nations joined the US in saying they did not recognise the results of Sunday's election, which appointed a new "Constituent Assembly" superseding Venezuela's legislative body, the opposition-controlled National Assembly. Maduro's own attorney general, Luisa Ortega, who broke with him months ago over his policies, also said she would not acknowledge the body, calling it part of the president's "dictatorial ambition." The European Union expressed "preoccupation for the fate of democracy in Venezuela" and said it, too, doubted it could accept the results. And Britain's Foreign Minister Boris Johnson warned that Venezuela "stands on the brink of disaster." "Nicolas Maduro's government must stop before it is too late," he said. However, old allies Bolivia, Cuba, Nicaragua, and Russia stood by Maduro, who shrugged off mass protests and a previous round of US sanctions on some of his officials to see through the election. Cuba, Venezuela's closest ally, charged that "a well-organised international operation was under way, led from Washington, with the support of the OAS chief, aimed at silencing the voice of the Venezuelan people, and forcing them into submission with attacks and economic sanctions." More protests The National Electoral Council claimed more than 40 per cent of Venezuela's 20 million voters had cast ballots on Sunday. According to the opposition, voter turnout was closer to 12 per cent, a figure more aligned with the lack of lines at many polling stations. Surveys by polling firm Datanalisis showed more than 70 per cent of Venezuelans opposed the new assembly. Further protests were called for Monday and beyond, stoking fears that the death toll of 120 people killed in four months of protests against Maduro could rise further. "I feel awful, frustrated with this fraud," said Caracas resident Giancarlo Fernandez, 35. Demonstrators defied a ban on protests set by Maduro that threatened up to 10 years in prison for violators. Ten people died in violence surrounding Sunday's election, which saw security forces fire tear gas and, in some cases, live ammunition to put down protests. Among those killed were two teens and a Venezuelan soldier. Boycotted by the opposition, and voted for largely by state employees fearful for their jobs, the Constituent Assembly was made up solely of members of Maduro's ruling Socialist Party. Tasked with writing a new constitution, it has far-reaching powers, including the right to dissolve the National Assembly and change laws. It is due to be installed on Wednesday. More sanctions? The European Union condemned the "excessive and disproportionate use of force" by Venezuelan police and troops on Sunday. A spokeswoman for the European Commission said "A Constituent Assembly, elected under doubtful and often violent circumstances, cannot be part of the solution." Russia, however, threw its weight behind Maduro and the election, backing the government turnout figure. The foreign ministry in Moscow said in a statement it hopes countries "who apparently want to increase economic pressure on Caracas will display restraint and abandon their destructive plans." Yet analysts agreed that Maduro's move had swept away any vestige of democracy in Venezuela. "Maduro's blatant power grab removes any ambiguity about whether Venezuela is a democracy," said Michael Shifter, head of the Inter-American Dialogue research center. Venezuela's 30 million citizens are suffering through shortages of basic goods. Sanctions against the all-important oil sector would worsen their situation, but could also destabilize the government, which is frenziedly printing money and running out of foreign currency reserves.

US hits 'dictator' Maduro with sanctions over disputed Venezuela vote

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