The takeover of Citgo, Pdsa’s US subsidiary, was one of the most insidious blows to the Venezuelan economy. Author: Reuters

CARACAS, 2 May. The state-owned company Petroleos de Venezuela (PDVSA) has assured that it will continue to protect its rights from the looting that the United States government, in complicity with Venezuelan far-right groups, is trying today to the country’s main industry, PL reported.

A statement released last night by Petroleum Minister Pedro Tellechea warned that any payment agreement or transaction in respect of any debt, controversy, litigation or judgment relating to any legal entity in which he holds a shareholding will be null and void and illegal under with Venezuelan law and in accordance with international law.

The clarification comes in response to a decision taken yesterday by the US Treasury’s Office of Foreign Assets Control, which, under General License 42, divested the South American nation of Citgo, based in the northern country.

In this regard, the government agency warned that PDVSA or its subsidiaries will not recognize or validate any agreements entered into, entered into or performed on the basis of these rules, any other general or special licenses, decisions received from any foreign body or legal entity or foreign public authority.

We categorically reject and completely ignore the fraudulent sale of PDVH’s stake in Citgo through an illegal negotiated sale at the mercy of US government interests in Crystallex International Corporation v. Bolivarian Republic of, the note says.

He explained that this was discussed in the Delaware District Court in the United States “without the intervention of legal representatives of the Republic or organizations PDVSA, PDVH or Citgo”, which violated basic international law and diverted American justice to “meet the economic interests of certain political groups.”

Petroleos de Venezuela condemned before the international community the policy of aggression pursued by the Government of the United States through unilateral and illegal coercive measures, judicial decisions and other restrictive and punitive actions.

He stated that these actions resulted in the loss of value of assets of PDVSA and its subsidiaries abroad, as well as the inability to enter into agreements that allow the normal development of the company’s growth, limiting its solvency, among other harmful consequences.

These unacceptable US actions in complicity with extremist groups in Venezuelan politics led to the looting and destruction of the assets of PDVSA and its subsidiaries, and caused economic and social damage to the population, the state oil company said.

Last night, the Bolivarian government, in a similar statement, condemned before the international community Washington’s policy of aggression against Venezuela.

Source: Juventud Rebelde