Venezuela has denounced a U.S. court decision to authorize the sale of Citgo Petroleum's parent company, PDV Holding, calling the process "fraudulent" and politically motivated. The Delaware court approved the $5.9 billion sale to an affiliate of Elliott Investment Management last week, sparking immediate backlash from Caracas.
Vice President and Oil Minister Delcy Rodríguez stated on state television that the government "energetically rejects" the ruling, emphasizing Venezuela's longstanding opposition to the sale. Legal representatives for the country, Citgo, and related entities filed an appeal this week, challenging the order issued by Judge Leonard Stark.
The dispute underscores escalating tensions over Venezuela's oil assets, which remain central to its geopolitical struggles. A recent poll by Hinterlaces revealed 90% of Venezuelan respondents view the U.S. action as an attempt to oust President Nicolás Maduro and seize control of national oil resources. Analysts suggest the case could further strain U.S.-Venezuela relations amid ongoing economic sanctions.
