CITGO's Corpus Christi Refinery in Texas. Photo: CITGO/File photo.
Venezuelan President Nicolás Maduro reported that the White House has withheld $4 billion of profits generated in the last four years by CITGO Petroleum Corporation.
“CITGO has produced average profits, in the last four years of illegal seizure, of $1 billion per year. The United States government is holding back $4 billion of annual profits from 2019, 2020, 2021 and 2022 from CITGO,” President Maduro denounced on Monday, May 22, during his television show Con Maduro+.
CITGO Oil Corporation is a subsidiary of the publicly owned PetrĂłleos de Venezuela (PDVSA). CiTGO is based in Houston, Texas.
Venezuela is in a major battle to recover its stolen assets from around the world, including gold frozen in UK banks and other assets.
The decision of the US Office of Foreign Assets Control (OFAC), part of the Treasury Department, to hand over CITGO Petroleum Corporation, belonging to the Venezuelan people, to a sector of Venezuela’s far-right opposition unleashed strong condemnation in Venezuela.
(HispanTV)
Translation: Orinoco Tribune
OT/JRE/SF
bla 5.24.23 13:30 EST
