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US prolongs impediment of liquidation of obligations to oil branch …

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US prolongs impediment of liquidation of obligations to oil branch ...

The United States, which imposed strong economic sanctions on Venezuela, extended the license that prevents creditors from taking control of Citgo, a branch of the Venezuelan oil company PDVSA, for another three months.

The Treasury Department decided in October to prevent bondholders from Citgo, a branch of the public company PDVSA, based in the United States, from liquidating them and taking control.

Citgo, which is headquartered in Houston (Texas) and has three refineries and a network of service stations in the United States, was due at the time to make a payment of $ 913 million for the bonds issued by Nicolas Maduro's government in 2016.

The initial deadline for preventing the execution of guarantees was 22 January, but the US Treasury has now decided to extend it for three months until 22 April.

According to another document published by the agency that manages the sanctions imposed by the US Treasury, licenses granted to Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International were also extended until April 22, allowing them to carry out tasks in Venezuela. “Necessary to maintain the operations of certain entities” in the country.

The US administration has applied punitive sanctions to President Nicolas Maduro's regime in Venezuela, having recognized in January 2019 the opponent Juan Guaidó as interim president of the country in the midst of crisis.

. (tagsToTranslate) October

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