Specialists urge the creation of a Foreign Asset Management Board to protect CITGO

Specialists urge the creation of a Foreign Asset Management Board to protect CITGO

The theme of the PDVSA subsidiary in the United States, CITGOcontinues to win in the various media, which this week, according to what was stated by the economist and university professor, Francis Rodriguez, OFAC will apply a license policy favorable to sales in the company, as ordered by the Delaware Court.

He specified that what the announcement seeks is to give the go-ahead to a possible sale of CITGO, all with the firm purpose of being able to cancel accumulated debts in the order of 9.1 billion dollars.

Rodríguez assures that many of these debts unleashed a right of embargo in the company, given the violation of the autonomy of PDVSA by the interim Juan Guaidó, as stipulated in the Delaware Court ruling.

Over the past few years, we have consistently warned how mistakes made by the opposition could increase the risk of CITGO being seized, and we have outlined steps to take to correct those mistakes.he stressed.

He was very emphatic in maintaining that at this moment the most convenient thing is to be able to carry out a negotiation with the creditors, with the idea of ​​being able to avoid a loss of Venezuela’s most important asset abroad.

Unfortunately, and despite CITGO’s positive results, it is likely that a successful negotiation will be difficult to conclude only by the National Assembly in 2015, given the number of debts that CITGO has acquired lien rights due to the judge’s decisions. Stark”, he assured.

Rodríguez also specified in his Twitter account that it is of the utmost importance that both the Nicolás Maduro administration and the opposition include in their discussion agenda the urgent creation of a Foreign Asset Management Board, in order to be able to protect the assets Creoles who are outside the country

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