Seizure of Citgo subtracts US$900 million a month in revenues for Venezuela

Venezuelan President Nicolás Maduro denounced Monday night that the “seizure” of the Venezuelan oil company Citgo, based in Houston, United States, means that the Venezuelan State stops receiving US$900 million a month.

“Since Citgo was hijacked (2019), in times of Donald Trump, more than 900 million dollars a month have ceased to be perceived by the Republic with the dispossession of Citgo”, informed the president.

He accused Venezuelan radical opponents of being directly responsible for forging a plan, together with the Government of the United States, to attack the interests of the South American nation.

“I support with all my spirit and strength, and I ask for the support of the whole country to this law that the National Assembly is working on to take a step towards the protection of Venezuela’s assets in the world,” Maduro said in reference to the Law for the Protection of Assets, Rights, and Interests of the Republic and its Entities Abroad.

Maduro clarified that the law mentioned above “arises as a response to the plundering of Venezuela by the neoliberal governments of the United States and Europe”,

On May 1, the U.S. Treasury Department informed about the issuance of General License 42, issued through the Office of Foreign Assets Control (OFAC), which implies an expropriation executed by Washington of the Venezuelan state-owned company.

The above implies an increase in the hostility of the United States towards Venezuela since, in 2019, an embargo against Citgo was announced, and recently, Washington has announced legal maneuvers for its expropriation.

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