VENEZUELA-Protests Erupt Following Election Rigging Claims

Protests erupted on the streets of the Venezuelan capital Caracas on 29 July amid claims that President Nicolas Maduro and his far-left PSUV stole the 28 July presidential election. Official results claim Maduro won 51% of the vote compared to 44% for main opposition candidate Edmundo Gonzalez. However, the opposition claims that Gonzalez is the real winner, with 6.2mn votes to 2.7mn for Maduro. Gov'ts in North America, Europe, and Latin America have raised doubts about the legitimacy of Maduro's win.

• As protesters advanced towards the Miraflores Presidential Palace, police fired tear gas. The FT reports"In Santa Capilla, a few blocks from the palace, men in plain clothes were firing live ammunition from pistols towards demonstrators, according to videos shared on social media."
• As we noted yesterday (see 'OIL: US to Weigh Further Venezeula Sanctions On Voting Transparency', 1827BST 29 Jul) there is the prospect of a tightening of sanctions from Washington. Reuters reported unnamed US officials saying the result lacked "any credibility", adding the outcome would depend on Maduro's actions. Axios reportsRepublicans in the US pressing the Biden administration to tighten restrictions on Venezuela.
• At present it is too early to say whether the protests will fizzle out, leaving Maduro in power but at risk of tightening sanctions, whether the opposition will be able to launch effective legal challenges against the result (unlikely given the PSUV's dominance over institutions) or if the protests widen into a popular movement against the gov't risking a massive crackdown or the ouster of the gov't.