U.S. Moves To Protect PDVSA-Owned Citgo For Another Year

The Treasury Department extended a moratorium on transactions on a bond issued by the U.S. arm of Venezuela’s PDVSA, Citgo, for another year in the latest move to shield the company from creditors trying to take it over. According to Bloomberg, this is the longest extension of the ban so far. AFP recalls that control of the U.

S. business of PDVSA was handed over by the Trump administration to the Venezuelan opposition led by Juan Guaido in 2019 after a round of new sanctions against Caracas. It is as part of efforts to keep Citgo in Guaido’s…