Following Monday’s imposition of sanctions against Venezuela’s oil
industry, the Trump Adminsitration is gearing up for what could be a
protracted international battle over the legal control of Venezuela’s
main overseas assets, the most substantial of which is Citgo.
Citgo is Venezuela’s US-based refinery business, which owns three
refineries in the United States and a major chain of gas stations across
the country. They are where much of Venezuela’s overseas oil exports
end up.
Venezuela’s state oil company PDVSA owns the majority of Citgo, while
49% of it is owned by Russia’s Rosneft as collateral for loans. PDVSA is ordering all US-bound oil tankers to pre-pay
for their oil now, as the US sanctions would effectively prevent them
from getting paid. The sanctions require all payments to be put in a
frozen account that PDVSA cannot access.
Venezuela’s Oil Minister says the country is examining imposing force majeure to get out of certain
contracts which are no longer tenable amid the US sanctions. Force
majeure would allow them to back off contracts on the grounds of forces
outside of their control.
Privatizing stolen resources followed by banker injecting massive national debt on the country and enslaving the population with labor to pay the interest in taxes.
Looters’ International snatch and grab operation.
but, but, we are a national of laws, my “zad.”
This is the End Game. We have been killing Venezuela for decades.
Oil is the root of all evil. There will be blood.
There won’t be any attack/invasion of Venezuela, since the country’s allied with Russia and China, Dave R. Remember, there are two Russian heavy bombers already in Venezuela, ready to retaliate on .Venezuela’s behalf. The USG isn’t suicidal.
It was just the other day that Trump spoke with Nicolas Maduro over the phone, offering negotiations. Does that sound like threats of attack and invasion? Of course not .. Trump just pulled a sneaky trick on Bonkers Bolton, undercutting his plans of war with Venezuela.
The US government is less suicidal than Texas capitalists or Russian fundamentalists. Russia needs to be paid back for their loans. Then their claim on PdVsa reserves goes away.
As far as I know the Energy Corridor loves Citgo.
Venezuelans will unite against us if we make moves on their commons
and the oil will turn red…………………