Incumbent Venezuelan leader Nicolas Maduro was officially declared on Tuesday the new head of state for the period of 2019-2025.

Axar.az informs, the AVN news agency reported.

On Sunday, Venezuela held its presidential election, with four candidates in the running. According to the National Electoral Council, Maduro was re-elected as Venezuelan president for the second term, having secured 68 percent of votes, with slightly over 46-percent voter turnout.

A number of countries, such as the United States, Canada, Argentina, Spain, and Germany, characterized the vote as undemocratic and questioned the legitimacy of Maduro's re-election. The US has introduced a number of sanctions against the country over, what they called to be, a "fraudulent" vote.

Simultaneously, Lima Group countries are mulling additional diplomatic measures, targeting Venezuela following the vote.

The vote took place amid a severe financial crisis in the Latin American country: its economy has been hit by dropping oil prices. The nation also experienced months of violent mass protests last year, which initially were a response to the highest court's decision to severely limit the parliament's legislative powers.