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Venezuela Moves to Replace U.S. Executives on Citgo Board

Ohio chic

User ID: 77092430
United States
02/10/2019 09:34 AM

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Venezuela Moves to Replace U.S. Executives on Citgo Board
Venezuela's state-run oil company Petroleos de Venezuela (PDVSA) is taking steps to remove at least two American executives from the board of directors of its United States's refining subsidiary, Citgo Petroleum Corp, according to people close to the matter.

Citgo is facing unprecedented challenges to its finances and management after the US government last week imposed tough sanctions on PDVSA designed to prevent oil revenue from going to leftist President Nicolas Maduro.

Can the international community solve Venezuela's crisis?
The US and dozens of other nations have refused to recognise Maduro, viewing his re-election last year to another six-year term as fraudulent.

[link to www.aljazeera.com (secure)]
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