Aug. 23 (UPI) -- The Organization of American States urged member nations to refuse extradition requests from the Venezuelan government in relation to the recent assassination attempt against Venezuelan President Nicolás Maduro.

"These 'extradition requests' linked to the alleged attack against Nicolás Maduro are flawed and should be ignored by the international community because the body that issues them is fraudulent, its members are impostors and their positions illegal," the OAS said in a statement. "In recent days we have witnessed spurious extradition requests made by the illegitimate supreme court of justice of the dictatorship headed by its illegal president Maikel Moreno."

The OAS went on to say that the only legitimately democratic bodies of Venezuela are its National Assembly elected in 2015 but not in more recent elections, members of the Supreme Court who are currently in exile and the exiled Attorney General because these officials have been validated by the Inter-American and international community.

On June 4, Maduro survived an assassination attempt when drones detonated explosions as he gave a speech outdoors in Caracas. Maduro was unharmed but several soldiers were injured.

Venezuelan officials have accused Delgado Tabosky, the son of a wealthy Venezuelan businessman in Miami, of financing the assassination attempt.

"He must face justice," Maduro said after the drone attack. "We have to get the U.S. government to turn over this assassin to us."

Since then, the Venezuelan government has issued several more extradition requests of people suspected of involvement in the assassination attempt from Colombia and Peru, as well as the United States.</s>CARACAS - New banknotes stripped of five zeros entered circulation in Venezuela on Monday as part of President Nicolas Maduro's radical plan to curb hyperinflation, but business leaders branded the move as counterproductive.

The country appeared paralyzed. Most shops and businesses closed as Venezuelans reacted nervously to the issuing of the new "sovereign bolivar," launched to replace the oil-rich, cash-strapped country's crippled "strong bolivar."

But Carlos Larrazabal, president of leading business association, Fedecamaras, said the measure would only "increase economic instability." Having been suspended for more than 12 hours on Sunday, electronic transactions resumed amid palpable uncertainty.

"We're all in the same boat, waiting to see what will happen," Maria Sanchez, a 39-year-old shopkeeper told AFP after withdrawing some cash. Alongside the bolivar redenomination, Maduro announced other measures to tackle widespread poverty, including a 3,400 percent hike in the minimum wage, the fifth such move this year alone. "That's a crazy measure," Henkel Garcia, director of consultancy group Econometrica, told AFP.

Larrazabal said it "could devastate companies' already debilitated assets."

Inflation that the International Monetary Fund predicts will reach one million percent this year rendered the old bolivar currency practically worthless, while the economic crisis has driven more than two million people to flee the country, according to the United Nations.

In a video broadcast Monday night on Facebook, Maduro said the launch of the new bank notes had gone smoothly, insisting "the banking system performed wonderfully." He also issued a vague threat to companies to comply with the minimum wage increase. "Otherwise, they will have to answer to us," Maduro said without explaining what punishment there might be.

On the border with Brazil, the flow of fleeing people continued despite some 1,200 being driven back over the weekend in anti-migrant violence that got so bad President Michel Temer sent troops to the area to restore order.

 'Rampant corruption'

"The Venezuelan people bear the tragic cost of the Maduro regime's rampant corruption and tyranny," tweeted US Vice President Mike Pence, adding that "recent moves will only make life worse for every Venezuelan."

"Nicolas Maduro and his regime have driven a once-prosperous country to economic ruin and humanitarian crisis," Pence said. The embattled Maduro, a former bus driver and union leader, said the country needed to show "fiscal discipline" and stop the excessive money printing of recent years.

In the capital, Caracas, residents were skeptical about the new measures, not least since former president Hugo Chavez slashed three zeros from the bolivar 10 years ago without halting hyperinflation.

"Everything will stay the same, prices will continue to rise," 39-year-old Bruno Choy, who runs a street food stand, told AFP. Angel Arias, a 67-year-old retiree, dubbed the new currency a "pure lie!"

Three of the country's leading opposition groups -- Primero Justicia, Voluntad Popular and Causa R -- have called for a general strike and day of protests on Tuesday. Government loyalist and president of the controversial regime-dominated legislature, Diosdado Cabello responded on Monday by announcing a "counter-march." One of Maduro's most baffling reforms has been to anchor the new currency to the country's widely discredited cryptocurrency, the petro.

Each petro will be worth about $60, based on the price of a barrel of Venezuelan oil. In the new currency, that will be 3,600 bolivars -- signaling a massive devaluation. In turn, the minimum wage will be fixed at half a petro -- 1,800 bolivars, about $28. Information Minister Jorge Rodriguez insisted the reform program would be funded "with oil income, with taxes and income from gasoline price hikes." 

Maduro also announced a curb on heavily subsidized fuel in a bid to prevent oil being smuggled to other countries. Fuel subsidies have cost Venezuela $10 billion since 2012, according to oil analyst Luis Oliveros, but without them, most people would not be able to buy fuel.

 More blows

The blows kept coming on Monday as US oil giant ConocoPhillips said Venezuela's state oil company PDVSA had agreed to make a $2 billion settlement to halt the seizure of its Caribbean assets.

ConocoPhillips seized $750 million of PDVSA assets in May after winning two international arbitration cases against Venezuela for the "unlawful and uncompensated expropriation" of its heavy crude oil projects in the country by Chavez in 2007. Earlier this month, a US court had also ruled that Canadian mining company Crystallex could seize shares in PDVSA's US-based subsidiary Citgo as payment for a $1.2 billion debt.

Now in a fourth year of recession, Venezuela has been hamstrung by shortages of basic goods such as food and medicine, and paralyzed public services, including water, electricity and transport.

Oil production accounts for 96 percent of Venezuela's revenue -- but that has slumped to a 30-year low of 1.4 million barrels a day, compared to its record high of 3.2 million 10 years ago.</s>[CARACAS] New banknotes stripped of five zeros entered circulation in Venezuela on Monday as part of President Nicolas Maduro's radical plan to curb hyperinflation, but business leaders branded the move as counterproductive.

The country appeared paralyzed. Most shops and businesses closed as Venezuelans reacted nervously to the issuing of the new "sovereign bolivar," launched to replace the oil-rich, cash-strapped country's crippled "strong bolivar."

But Carlos Larrazabal, president of leading business association, Fedecamaras, said the measure would only "increase economic instability."

Having been suspended for more than 12 hours on Sunday, electronic transactions resumed amid palpable uncertainty.

"We're all in the same boat, waiting to see what will happen," Maria Sanchez, a 39-year-old shopkeeper told AFP after withdrawing some cash.

Alongside the bolivar redenomination, Maduro announced other measures to tackle widespread poverty, including a 3,400 percent hike in the minimum wage, the fifth such move this year alone.

Mr Larrazabal said it "could devastate companies' already debilitated assets."

Inflation that the International Monetary Fund predicts will reach one million per cent this year rendered the old bolivar currency practically worthless, while the economic crisis has driven more than two million people to flee the country, according to the United Nations.

In a video broadcast Monday night on Facebook, Mr Maduro said the launch of the new bank notes had gone smoothly, insisting "the banking system performed wonderfully."

He also issued a vague threat to companies to comply with the minimum wage increase. "Otherwise, they will have to answer to us," Mr Maduro said without explaining what punishment there might be.

On the border with Brazil, the flow of fleeing people continued despite some 1,200 being driven back over the weekend in anti-migrant violence that got so bad President Michel Temer sent troops to the area to restore order.

"The Venezuelan people bear the tragic cost of the Maduro regime's rampant corruption and tyranny," tweeted US Vice President Mike Pence, adding that "recent moves will only make life worse for every Venezuelan."

"Nicolas Maduro and his regime have driven a once-prosperous country to economic ruin and humanitarian crisis," Pence said.

The embattled Mr Maduro, a former bus driver and union leader, said the country needed to show "fiscal discipline" and stop the excessive money printing of recent years.

In the capital, Caracas, residents were skeptical about the new measures, not least since former president Hugo Chavez slashed three zeros from the bolivar 10 years ago without halting hyperinflation.

"Everything will stay the same, prices will continue to rise," 39-year-old Bruno Choy, who runs a street food stand, told AFP.

Three of the country's leading opposition groups - Primero Justicia, Voluntad Popular and Causa R - have called for a general strike and day of protests on Tuesday.

Government loyalist and president of the controversial regime-dominated legislature, Diosdado Cabello responded on Monday by announcing a "counter-march."

One of Mr Maduro's most baffling reforms has been to anchor the new currency to the country's widely discredited cryptocurrency, the petro.

Each petro will be worth about US$60, based on the price of a barrel of Venezuelan oil. In the new currency, that will be 3,600 bolivars - signaling a massive devaluation.

In turn, the minimum wage will be fixed at half a petro - 1,800 bolivars, about US$28.

Information Minister Jorge Rodriguez insisted the reform programme would be funded "with oil income, with taxes and income from gasoline price hikes."

Mr Maduro also announced a curb on heavily subsidized fuel in a bid to prevent oil being smuggled to other countries.

Fuel subsidies have cost Venezuela US$10 billion since 2012, according to oil analyst Luis Oliveros, but without them, most people would not be able to buy fuel.

The blows kept coming on Monday as US oil giant ConocoPhillips said Venezuela's state oil company PDVSA had agreed to make a US$2 billion settlement to halt the seizure of its Caribbean assets.

ConocoPhillips seized US$750 million of PDVSA assets in May after winning two international arbitration cases against Venezuela for the "unlawful and uncompensated expropriation" of its heavy crude oil projects in the country by Chavez in 2007.

Earlier this month, a US court had also ruled that Canadian mining company Crystallex could seize shares in PDVSA's US-based subsidiary Citgo as payment for a US$1.2 billion debt.

Now in a fourth year of recession, Venezuela has been hamstrung by shortages of basic goods such as food and medicine, and paralyzed public services, including water, electricity and transport.

Oil production accounts for 96 per cent of Venezuela's revenue - but that has slumped to a 30-year low of 1.4 million barrels a day, compared to its record high of 3.2 million 10 years ago.</s>El Parlamento de Venezuela -de mayoría opositora- aprobó el martes un acuerdo de respaldo a la sentencia del tribunal supremo de justicia paralelo, que condenó al presidente Nicolás Maduro por corrupción tras el escándalo de constructora brasileña Odebrecht.

El legislativo, cuyas decisiones son consideradas nulas, manifestó su "respaldo político" a la decisión suscrita por los magistrados en el exilio que acordaron el pasado 15 de agosto una condena de 18 años y tres meses al mandatario venezolano.

La Asamblea Nacional insistió en la existencia de "méritos" suficientes para un proceso judicial al presidente Maduro por presuntos "hechos de corrupción".

La sala plena del tribunal paralelo dictó la sentencia en un recinto del Congreso colombiano, donde escuchó la acusación de la fiscal general destituida, Luisa Ortega, quien huyó de Venezuela en agosto de 2017 tras ser removida por la todopoderosa Constituyente oficialista.

El 9 de abril los 13 magistrados principales y 20 suplentes de la corte paralela -exiliados en Colombia, Chile, Estados Unidos y Panamá- solicitaron al parlamento venezolano que autorizara el enjuiciamiento de Maduro por presunta corrupción relacionada a sobornos de Odebrecht.

El legislativo avaló el juicio, aunque todas sus decisiones son consideradas "nulas" por el Tribunal Supremo de Justicia (TSJ) venezolano en ejercicio, que es señalado de servir a Maduro.

El TSJ declaró al Legislativo en desacato desde que en 2016 la coalición opositora Mesa de la Unidad Democrática (MUD) asumiera 112 de los 167 curules, invalidando todas sus resoluciones.

Los magistrados -ahora en exilio- fueron nombrados por la oposición para corregir supuestas irregularidades en la designación de los jueces que ocupan esos cargos en el TSJ.

Por su parte, la secretaría general de la OEA pidió el martes desconocer todos los actos del "ilegítimo" TSJ, refiriéndose en particular a recientes pedidos de extradición vinculados al aparente atentado contra el presidente Nicolás Maduro.

La semana pasada, la máxima corte autorizó pedir a Colombia la extradición del diputado opositor exiliado Julio Borges, acusado de atentar contra Maduro el pasado 4 de agosto, durante un desfile militar en Caracas con dos drones cargados de explosivos.

En un comunicado la OEA señaló que las únicas instituciones democráticas en Venezuela son: la Asamblea Nacional surgida de las elecciones de 2015, la corte cuyos miembros eligió el Legislativo, y la Fiscalía General, destituida por la Constituyente tildada de "fraudulenta" por la oposición y desconocida por varios países. (I)</s>CARACAS (AFP) - New banknotes stripped of five zeros entered circulation in Venezuela on Monday (Aug 20) as part of President Nicolas Maduro's radical plan to curb hyperinflation, but business leaders branded the move as counterproductive.

Most shops and businesses closed as Venezuelans reacted nervously to the issuing of the new "sovereign bolivar", launched to replace the oil-rich, cash-strapped country's crippled "strong bolivar".

But Carlos Larrazabal, president of leading business association, Fedecamaras, said the measure would only "increase economic instability".

Having been suspended for more than 12 hours on Sunday, electronic transactions resumed amid palpable uncertainty.

"We're all in the same boat, waiting to see what will happen," Maria Sanchez, a 39-year-old shopkeeper told AFP after withdrawing some cash.

Alongside the bolivar redenomination, Maduro announced other measures to tackle widespread poverty, including a 3,400 per cent hike in the minimum wage, the fifth such move this year alone.

Larrazabal said it "could devastate companies' already debilitated assets".

Inflation that the International Monetary Fund predicts will reach one million per cent this year rendered the old bolivar currency practically worthless, while the economic crisis has driven more than two million people to flee the country, according to the United Nations.

In a video broadcast Monday night on Facebook, Maduro said the launch of the new bank notes had gone smoothly, insisting "the banking system performed wonderfully".

He also issued a vague threat to companies to comply with the minimum wage increase. "Otherwise, they will have to answer to us," Maduro said without explaining what punishment there might be.

On the border with Brazil, the flow of fleeing people continued despite some 1,200 being driven back over the weekend in anti-migrant violence that got so bad President Michel Temer sent troops to the area to restore order.

"The Venezuelan people bear the tragic cost of the Maduro regime's rampant corruption and tyranny," tweeted US Vice President Mike Pence, adding that "recent moves will only make life worse for every Venezuelan." "Nicolas Maduro and his regime have driven a once-prosperous country to economic ruin and humanitarian crisis," Pence said.

The embattled Maduro, a former bus driver and union leader, said the country needed to show "fiscal discipline" and stop the excessive money printing of recent years.

In the capital, Caracas, residents were skeptical about the new measures, not least since former president Hugo Chavez slashed three zeros from the bolivar 10 years ago without halting hyperinflation.

"Everything will stay the same, prices will continue to rise," 39-year-old Bruno Choy, who runs a street food stand, told AFP.

Three of the country's leading opposition groups - Primero Justicia, Voluntad Popular and Causa R - have called for a general strike and day of protests on Tuesday.

Government loyalist and president of the controversial regime-dominated legislature, Diosdado Cabello responded on Monday by announcing a "counter-march." One of Maduro's most baffling reforms has been to anchor the new currency to the country's widely discredited cryptocurrency, the petro.

Each petro will be worth about US$60, based on the price of a barrel of Venezuelan oil. In the new currency, that will be 3,600 bolivars - signalling a massive devaluation.

In turn, the minimum wage will be fixed at half a petro - 1,800 bolivars, about US$28.

Information Minister Jorge Rodriguez insisted the reform programme would be funded "with oil income, with taxes and income from gasoline price hikes".

Maduro also announced a curb on heavily subsidised fuel in a bid to prevent oil being smuggled to other countries.

Fuel subsidies have cost Venezuela US$10 billion since 2012, according to oil analyst Luis Oliveros, but without them, most people would not be able to buy fuel.

The blows kept coming on Monday as US oil giant ConocoPhillips said Venezuela's state oil company PDVSA had agreed to make a US$2 billion settlement to halt the seizure of its Caribbean assets.

ConocoPhillips seized US$750 million of PDVSA assets in May after winning two international arbitration cases against Venezuela for the "unlawful and uncompensated expropriation" of its heavy crude oil projects in the country by Chavez in 2007.

Earlier this month, a US court had also ruled that Canadian mining company Crystallex could seize shares in PDVSA's US-based subsidiary Citgo as payment for a US$1.2 billion debt.

Now in a fourth year of recession, Venezuela has been hamstrung by shortages of basic goods such as food and medicine, and paralysed public services, including water, electricity and transport.

Oil production accounts for 96 per cent of Venezuela's revenue - but that has slumped to a 30-year low of 1.4 million barrels a day, compared to its record high of 3.2 million 10 years ago.</s>Alongside the bolivar redenomination, President Nicolas Maduro has announced other measures to tackle widespread poverty, including a massive 3,400% wage hike

CARACAS, Venezuela – New banknotes stripped of 5 zeros entered circulation in Venezuela on Monday, August 20, as part of President Nicolas Maduro's radical plan to curb hyperinflation, but business leaders branded the move as counterproductive.

The country appeared paralyzed. Most shops and businesses closed as Venezuelans reacted nervously to the issuing of the new "sovereign bolivar," launched to replace the oil-rich, cash-strapped country's crippled "strong bolivar."

But Carlos Larrazabal, president of leading business association, Fedecamaras said the measure would only "increase economic instability."

Having been suspended for more than 12 hours on Sunday, August 19, electronic transactions resumed amid palpable uncertainty.

"We're all in the same boat, waiting to see what will happen," Maria Sanchez, a 39-year-old shopkeeper told Agence France-Presse (AFP) after withdrawing some cash.

Alongside the bolivar redenomination, Maduro announced other measures to tackle widespread poverty, including a massive 3,400% wage hike, the fifth such move this year alone.

Larrazabal said it "could devastate companies' already debilitated assets."

Inflation that the International Monetary Fund predicts will reach 1,000,000% this year rendered the old bolivar currency practically worthless, while the economic crisis has driven more than two million people to flee the country, according to the United Nations.

On the border with Brazil, the flow of fleeing people continued despite some 1,200 being driven back over the weekend in anti-migrant violence that got so bad President Michel Temer sent troops to the area to restore order.

"The Venezuelan people bear the tragic cost of the Maduro regime's rampant corruption and tyranny," tweeted US Vice President Mike Pence, adding that "recent moves will only make life worse for every Venezuelan."

"Nicolas Maduro and his regime have driven a once-prosperous country to economic ruin and humanitarian crisis," Pence said.

The embattled Maduro, a former bus driver and union leader, said the country needed to show "fiscal discipline" and stop the excessive money printing of recent years.

In the capital, Caracas, residents were skeptical about the new measures, not least since former president Hugo Chavez slashed 3 zeros from the bolivar 10 years ago without halting hyperinflation.

"Everything will stay the same, prices will continue to rise," 39-year-old Bruno Choy, who runs a street food stand, told AFP.

Three of the country's leading opposition groups – Primero Justicia, Voluntad Popular and Causa R – have called for a general strike and day of protests on Tuesday, August 21.

Government loyalist and president of the controversial regime-dominated legislature, Diosdado Cabello responded on Monday by announcing a "counter-march."

One of Maduro's most baffling reforms has been to anchor the new currency to the country's widely discredited cryptocurrency, the petro.

Each petro will be worth about $60, based on the price of a barrel of Venezuelan oil. In the new currency, that will be 3,600 bolivars – signaling a massive devaluation.

In turn, the minimum wage will be fixed at half a petro – 1,800 bolivars, about $28.

Information Minister Jorge Rodriguez insisted the reform program would be funded "with oil income, with taxes and income from gasoline price hikes."

Maduro also announced a curb on heavily subsidized fuel in a bid to prevent oil being smuggled to other countries.

Fuel subsidies have cost Venezuela $10 billion since 2012, according to oil analyst Luis Oliveros, but without them, most people would not be able to buy fuel.

The blows kept coming on Monday as US oil giant ConocoPhillips said Venezuela's state oil company PDVSA had agreed to make a $2 billion settlement to halt the seizure of its Caribbean assets.

ConocoPhillips seized $750 million of PDVSA assets in May after winning two international arbitration cases against Venezuela for the "unlawful and uncompensated expropriation" of its heavy crude oil projects in the country by Chavez in 2007.

Earlier this month, a US court had also ruled that Canadian mining company Crystallex could seize shares in PDVSA's US-based subsidiary Citgo as payment for a $1.2 billion debt.

Now in a 4th year of recession, Venezuela has been hamstrung by shortages of basic goods such as food and medicine, and paralyzed public services, including water, electricity and transport.

Oil production accounts for 96% of Venezuela's revenue – but that has slumped to a 30-year low of 1.4 million barrels a day, compared to its record high of 3.2 million 10 years ago. – Rappler.com</s>Colombia issued a strong protest Tuesday over what it said was a border incursion by Venezuelan helicopters and troops over the weekend.

The government of President Ivan Duque said it sent a strongly-worded protest to the Venezuelan ambassador over what it claimed was a "violation of Colombia's sovereignty" in Norte Santander department on Sunday.

"Two helicopters, identified with the initials of the Bolivarian National Guard and about 30 armed personnel belonging to the Bolivarian National Armed Forces of Venezuela" landed in the border region of Tibu, the foreign ministry said.

The ministry said it sent a note "expressing the strongest protest" to the Venezuelan ambassador in Bogota.

The South American neighbors have locked horns in recent years over similar incidents along their 2,200-kilometer (1,370-mile) border crisscrossed by guerrillas and drug traffickers.

The most recent incident was in November last year and also involved the Tibu region.

Like his predecessor Juan Manuel Santos, Duque has branded Venezuela a "dictatorship" under President Nicolas Maduro.

Earlier this month, Maduro accused Santos of being behind an alleged attempt to assassinate him during a military parade in Caracas.

Hundreds of thousands of Venezuelans fleeing the economic crisis in their home country have taken refuge in Colombia, which Maduro has also accused of sheltering his opponents.

Colombia urged Peru and Ecuador to coordinate their immigration policies to deal with an influx of Venezuelan migrants.
The Venezuelan National Assembly supports and enforces a ruling made by exiled members of the Venezuelan Supreme Court, sentencing Venezuelan President Nicolás Maduro to 18 years and 3 months in prison for a litany of charges largely related to corruption. The Maduro government calls the court "illegitimate".