Venezuelan President Nicolas Maduro, whose nearly 12 years in office have been marked by deep economic and social crisis, was sworn in for a third term on Friday, despite a six-month-long election dispute, international calls for him to stand aside, and an increase in the US reward offered for his capture.

Maduro, president since 2013, was declared the winner of July's election by both Venezuela's electoral authority and top court, though detailed tallies confirming his victory have never been published.

In the latest in a series of punitive steps, the outgoing Biden administration increased its reward for information leading to the arrest or conviction of Maduro on drug trafficking charges to $25 million, from a previous $15 million. 

Maduro's inauguration was illegitimate, US Secretary of State Antony Blinken said in a statement, and the US will not recognize him as president. 

The US indicted Maduro and others on narcotics and corruption charges, among others, in 2020.