- The Venezuelan president pledged that his upcoming six-year mandate would be one of “peace and prosperity.”
CARACAS – Nicolás Maduro has officially been inaugurated for his third presidential term in Venezuela. The 62-year-old leader of the United Socialist Party (PSUV) will serve until January 10, 2031, according to the Venezuelan Constitution. The ceremony took place at the National Assembly in Caracas and was attended by representatives from various state powers and international delegations from 125 countries.
In his inauguration address, Maduro emphasized that he was elected by the people, not external influences, stating, “The power I represent belongs to the people.” He expressed deep emotion while receiving the presidential sash from National Assembly President Jorge Rodríguez and committed to upholding the trust placed in him. “This new presidential term will be a time of peace, prosperity, equality, and a new democracy,” he promised. “I swear on our history and on my life, we shall achieve it!”
The president announced his intention to implement the “seven transformations” campaign and mentioned plans for constitutional reform later this year. Leading up to the inauguration, the PSUV and allied organizations staged mobilizations across Caracas and other cities, culminating in a peaceful demonstration in traditionally opposition-held areas of eastern Caracas, with a large rally planned in the historic area of Los Próceres later in the day.
Caracas is also hosting the International Anti-Fascist Festival, gathering delegates globally to discuss strategies against rising far-right threats.
Maduro first took office in April 2013, succeeding Hugo Chávez, and secured re-election in May 2018 against Henri Falcón. Most recently, on July 28, 2024, Venezuela’s electoral authorities declared his victory, confirming his third term in office.
The opposition, led by María Corina Machado, has rejected the election results, maintaining that their candidate, Edmundo González, was the true winner. González has begun an international tour to seek support from allied governments.
During his administration, Maduro has faced numerous challenges from the opposition, including attempts at regime change and violence. His government has withstood various pressures, including assassination attempts and military coups. Furthermore, US sanctions targeting Venezuela’s economy, particularly its oil sector, have severely impacted the nation, contributing to a significant GDP contraction.
On Friday, the US Treasury Department blacklisted eight Venezuelan officials, citing their alleged involvement in repression and the illegitimate power claims of Maduro. Included among those sanctioned were prominent figures in the state oil company and government.
In response to the elections and ongoing tensions, the European Union has renewed sanctions against Venezuelan officials, with the UK and Canada also imposing further restrictions. Additionally, the US Department of Homeland Security announced an extension of “Temporary Protected Status” for Venezuelans living in the United States, despite political changes forthcoming in Washington.
The inauguration was a significant moment, with the outgoing administration reaffirming support for opposition claims, and the White House announcing increased rewards for information relating to alleged criminal activities by Maduro and other high-ranking officials.
