Venezuela is the most disastrously oil-dependent state in the world. Oil accounts for 96 per cent of exports and more than 40 per cent of government revenues
Venezuela's government has announced a 50% increase in the minimum wage and pensions amid runaway inflation.
Venezuelan President Nicolas Maduro has said there would be no "cordial ties" with the US until Washington respects Venezuelan sovereignty.
Venezuelan President Nicolas Maduro has revealed the White House hatched a plot to "collapse" his government in October through sabotaging food, electricity and fuel supplies.
Less than six weeks after President Hugo Chavez's death, Venezuelans head to the polls Sunday to select a new leader.