Venezuela's Rodriguez Moves to Seize Citgo
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Show Notes
Venezuelas interim President Delcy Rodriguez is planning to seize control of Citgo Petroleums boards, escalating the dispute over the U.S. subsidiary of state oil giant PDVSA. Rodriguezs team is preparing the takeover, which follows the U.S. recognition of her as leader after Nicolas Maduros capture. The Treasurys Office of Foreign Assets Control and State Department approval are needed for her new picks, and law firms representing Venezuela and PDVSA in U.S. courts are under review. Meanwhile, PDVSA has appointed Asdrubal Chavez, cousin of the late Hugo Chavez, to head U.S. arms, but his visa-blocking from Houston poses a challenge. All this happens as Citgo battles in court to block a $5.9 billion sale to an Elliott hedge fund affiliate, with final Treasury approval still pending.
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