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Venezuelan president formalizes re-election bid; EU warns of fresh sanctions

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Venezuelan president formalizes re-election bid; EU warns of fresh sanctions

Venezuelan President Nicolas Maduro officially announced his candidacy for the April 22 presidential election while a potential challenger appeared to be ready to launch his bid as well, according to media outlets.

In a speech at the national election board in Caracas, Maduro criticized opponents who are boycotting the election and dared them to stand against him, Reuters reported.

A possible challenger to Maduro, former governor and retired military officer Henri Falcon, was prepared to declare his presidential run, a move his campaign consultant confirmed to The Associated Press. Maduro's main rivals in the opposition are prohibited from competing in the election, according to The Associated Press and Agence France-Presse.

Ahead of Maduro's announcement, EU diplomatic chief Federica Mogherini warned Feb. 26 that the bloc was ready to respond if Venezuela fails to hold "credible elections," AFP reported.

The EU's latest sanctions against the oil-rich nation came in January, targeting seven senior Venezuelan officials, including National Assembly President Diosdado Cabello, Interior Minister Nestor Reverol and Chief Justice Maikel Moreno.

In August 2017, the U.S. imposed sanctions on Maduro's government and state-owned oil giant PDVSA.