Venezuela's Maduro Accepts Party Nomination, Will Seek Third Term

Since 2013, Nicolas Maduro has presided over severe economic crisis, worsened by US sanctions, that has seen seven million people flee the country as GDP plummeted by 80 percent in a decade (Credit: AFP)

Venezuela's President Nicolas Maduro will seek a third term in July 28 elections after 11 years in office marked by sanctions, economic collapse and accusations of widespread repression.

"We'll go to a new victory," the 61-year-old said as he accepted his ruling PSUV party's official nomination to be its candidate in elections from which the state apparatus has excluded his main rival -- the favorite in opinion polls.