US policy reversal clears path for sale of Citgo shares to satisfy Venezuela’s debts

摘要

The US government will not stand in the way of a court-ordered auction of shares of Citgo’s Venezuela holding company,according to court filings detailing a US policy shift that could see a process for creditors to seize Citgo assets launch around Sept.5.Creditors owed billions of dollars from the Venezuelan government,including ConocoPhillips,have long sought to settle claims by negotiation or through an auction of shares in Citgo parent PDV Holding,the most valuable international asset held by Venezuela’s state-owned oil company PDVSA.However,US sanctions blocked any share transfer and mandated specific approval from the Treasury Department’s Office of Foreign Assets Control for any transactions involving Venezuela’s US assets.