The democratically elected congress has rejected being stripped of power, saying they are resisting "an armed military dictatorship." The international community has condemned the power grab by a pro-government assembly.
National Assembly Vice President Freddy Guevara rejected the new pro-government body's power grab, saying the opposition-held congress would not give in.
"This is a congress in resistance of an armed military dictatorship that took over its authority and gained militarily what it could not gain at the ballot box," said Guevara during a special session of the National Assembly.
Foreign diplomats representing the US, EU, Argentina, Chile, Canada, Mexico and Peru, among others, attended the special session.
Regional powers and the international community have condemned the constituent assembly's move, with Organization of American States Secretary-General Luis Almagro declaring it "illegitimate and unconstitutional."
Political crisis
The all-powerful constituent assembly was elected in July despite a boycott from opposition lawmakers. The electoral process has been marred by allegations that the government altered the number of votes by approximately a million ballots, according to Smartmatic, the firm that provided the voting technology.
The opposition took control of congress during the 2015 legislative elections. The government of President Nicolas Maduro had previously attempted to unseat the opposition by stripping the legislature of power.
A Supreme Court ruling in late March triggered mass anti-government protests, prompting Venezuela's top court to rescind their decision within days. However, the pro-government constituent assembly's decision appears to be sticking.
Analysts believe the US president's remarks earlier this month played into Maduro's assertion that the Washington "empire" wants to invade Venezuela. Maduro has blamed the country's woes, including chronic shortages of food, medicine and basic goods on a supposed US-led plot against Venezuelan leadership.
Unlike his charismatic predecessor Hugo Chavez, Maduro has witnessed his support nosedive after failing to redress the country's severe economic crisis.
Venezuela on the brink
Venezuela is facing collapse amid multiple crises. DW takes a look at what has brought the oil-rich nation to its knees.
In March 2017, violent protests erupted across the country in response to a Supreme Court decision to strip the legislative branch of its powers. Amid an international outcry, President Nicolas Maduro reversed the decision, but it was too late. Thousands continued to take to the streets, calling for new elections. More than 100 people were killed in clashes with security forces.
Image: Getty Images/AFP/J. Barreto
Hunger, a growing problem
The violence added to the ongoing economic and political crisis in Venezuela. Many Venezuelans spend more than 30 hours a week waiting in lines to shop, and are often confronted with empty shelves when they finally enter a store. President Maduro blames the crisis on US price speculation. The opposition, however, accuses the Socialist government of economic mismanagement.
Image: picture-alliance/AA/C. Becerra
Health care in crisis
The crisis has even affected health care in the oil-rich nation. Venezuelans often head to Colombia to collect medical supplies to send home, as seen in this picture. Hospitals across Venezuela have compared conditions to those seen only in war zones. As patient deaths rise, health officials have sounded the alarm on the rise of malaria and dengue fever.
Image: picture alliance/dpa/M.Duenas Castaneda
Power grab
By July 2017, Venezuela's pro-government Constituent Assembly was established. For observers, it had all the hallmarks of a power grab. The new body adopted the authority to pass legislation on a range of issues, effectively taking away the powers of Venezuela's elected congress, which was under the opposition's control. The move drew wide international condemnation.
Image: picture-alliance/dpa/P. Miraflores
The West sanctions
In response to the political crisis, the United States and European Union imposed a series of sanctions against ruling officials. The US blacklisted members of the Constituent Assembly and froze all of Maduro's assets that are subject to US jurisdiction. The EU banned arms sales to the country.
Image: picture-alliance/dpa/AFP/T. Schwarz
Government victorious in regional elections
In October 2017, Venezuela held two votes: regional elections and elections for governors, which were long overdue. The opposition boycotted the vote, but then split, as some candidates and small parties chose to participate. This caused a deep rift within Maduro's opponents. The government went on to sweep the vote, which detractors say was unfair and heavily favored the regime.
Image: picture-alliance/AP Photo/A. Cubillos
Debt default
In November 2017, the oil-rich, cash-poor nation faced its day of reckoning. Credit ratings agencies declared Venezuela and its state-run oil company in "selective default." But Russia offered to restructure the South American country's debt to ensure Caracas pays its other creditors. US and EU sanctions, however, limited the chance of an agreement.
Image: picture-alliance/AP Photo/A. Cubillos
Presidential elections scheduled
The National Assembly announced in January 2018 that it would grant Maduro's call for snap presidential elections. The electoral authority, CNE, held the elections on May 20. The EU, the US and 14 Latin American nations warned that they would not recognize the results. The mainstream MUD opposition alliance boycotted the vote, leaving only one possible outcome.
Image: Getty Images/AFP/F. Parra
Maduro wins ...
Maduro was re-elected to a second six-year term with about 68 percent of the vote. Turnout was only 46 percent, according to electoral authorities. However, the MUD opposition alliance put turnout at less than 30 percent. The Organization of American States (OAS) called the elections neither free nor fair.
Image: picture-alliance/AP Photo/A. Cubillos
... Guaido assumes power
But weeks into the new year, the situation took a drastic turn. On January 23, 2019, parliament president Juan Guaido declared himself interim president of Venezuela — a move that was quickly recognized by US President Donald Trump. Maduro called it a US-backed "coup." Days later, the US sanctioned Venezuela's state oil firm, while Guaido staked his claim on the country's foreign assets.