Between dimes and diretes, Guaidó and Maduro blame each other for Venezuela’s judicial failure in US courts to defend Venezuelan assets abroad, since rulings against them could mean the loss of companies like Citgo
The president of the National Assembly (AN) elected in 2015 and leader of the Interim Government recognized by the international community, Juan Guaidó, announced that the favorable results of the subsidiary of Petróleos de Venezuela (PDVSA) in the United States, Citgo, could help reach an agreement to pay the $8,700 that Venezuela owes to Conoco Phillips.
The debt was contracted as a result of the arbitration award that Conoco Phillips won in 2019 against Venezuela. This week, District Judge Carl Nichols issued an order to enforce this decision and ordered Venezuela to pay the debt.
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After blaming Maduro for this situation, Guaidó pointed out on his Twitter account that the results that Citgo has achieved this year open up the possibility of obtaining enough money to reach an agreement that allows the US company to be paid.
If a payment agreement is not reached, Conoco Phillips and other companies with favorable rulings against Venezuela would try to seize the shares of Citgo, for which Venezuela would lose the company. The only thing that protects it from this scenario is a license issued by the United States Department of the Treasury that protects the company until at least 2023.
In this sense, Guaidó urges the parliamentary fractions of the AN elected in 2015 to approve the resources to the Special Prosecutor’s Office, now headed by Enrique José Sanchéz, so that this instance continues to protect the company.
“Citgo’s results this year open the door to explore a fair payment agreement and save the company. The call to the different parliamentary fractions is to provide the Special Prosecutor’s Office with the necessary resources to continue protecting the assets », he published.
The parliamentarian ratified the work that has been done by the Special Prosecutor’s Office and argued that it has been key to buying time in the face of the different debts contracted by the State, which has allowed for more space to propose a negotiation with creditors in the future, when the internship has “favorable conditions”.
Having pointed out the illegitimacy of Maduro before the international courts has allowed us to buy time to propose a negotiation with creditors in favorable conditions, as well as the protection of OFAC has been key to keeping the assets in the hands of Venezuelans.
– Juan Guaidó (@jguaido) August 24, 2022
On the other hand, he reacted to the accusations directed by Nicolás Maduro against him and the special prosecutor initially appointed by the interim to defend the State against Conoco Phillips, José Ignacio Hernández.
Guaidó rejected Maduro’s accusation and instead blamed the Chavista government for being responsible for the loss of the trial and for originating the lawsuit in the first place thanks to the expropriation ordered by Hugo Chávez against Conoco Phillips’ oil projects in Venezuela.
“Maduro dares to point out responsibilities for the sentence in the Conoco case, when it is the product of a lawsuit due to the expropriation imposed by Chávez. The regime irresponsibly handled the arbitration and judicial processes of Conoco. We carry the result on our backs », he stressed.
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