Venezuela's Maduro favored to win re-election

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Venezuela's incumbent President, Nicolas Maduro, looked set to win re-election on Sunday.

The Trump administration said it would not recognize the "sham" election and was considering oil sanctions.

Maduro said he is battling an "imperialist" plot to crush socialism and take over Venezuela's oil reserves.

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Factbox: Venezuela presidential candidates

Venezuela's President Nicolas Maduro greets the International observers for the upcoming May 20 election at the presidential palace in Caracas, Venezuela, May 18, 2018. /VCG Photo

As people went on voting, US Deputy Secretary of State John Sullivan said the US will not recognize the result of Venezuela's presidential election and it is "actively" considering oil sanctions on the country.

Sullivan called oil sanctions "a very significant step." "They are under active review," he said.

Earlier this month, the US announced sanctions on three Venezuelans and 20 companies for narcotics trafficking, but Washington has opted not to impose sanctions on a Venezuelan oil services company or on insurance coverage for tankers carrying Venezuelan oil.

Results were expected by late evening.

People wait in line next to an image of the late Venezuelan president Hugo Chavez before voting during the Constituent Assembly election in Caracas, Venezuela, July 30, 2017. /VCG Photo

People were queuing outside polling stations, where the majority of voters interviewed by Reuters reporters said they were backing Maduro.

"I'm hungry and don't have a job, but I'm sticking to Maduro," said Carlos Rincones, 49, in the once-thriving industrial city of Valencia, accusing right-wing business owners of purposefully hiding food and hiking prices.

Source(s): Reuters