Author Topic: Venezuelan Supreme Court Annuls Opposition's PDVSA, Citgo Board Appointments  (Read 74 times)

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Offline Rudi Jan

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Venezuelan Supreme Court Annuls Opposition's PDVSA, Citgo Board Appointments

03:14 15.02.2019
source: https://sputniknews.com/latam/201902151072437528-venezuela-pdvsa-citgo-board-opposition-supreme-court/


© REUTERS / Marco Bello

CARACAS (Sputnik) – Venezuela’s Supreme Court of Justice nullified the appointment by the country’s opposition of new board members of the state-owned PDVSA energy company and Citgo oil refiner, owned by it, and blocked these individuals’ bank accounts, prohibiting them from leaving the country.

"The constitutional chamber of the Supreme Court notes that the analyzed directive, issued by the National Assembly, is absolutely null and void and has no legal effect", judge Juan Jose Mendoza Jover said at the court session as aired by the Telesur broadcaster on Thursday.

On Wednesday, the opposition-controlled National Assembly endorsed members for the special board of directors of PDVSA whose only goal would be to appoint new directors for US-based Citgo and its subsidiaries.

The US office of opposition leader Juan Guaido, who proclaimed himself Venezuela’s interim president, subsequently announced Citgo's new board of directors.

Constitutionally elected Venezuelan President Nicolas Maduro, who has accused Guaido of acting at the instructions of the United States, saying that Washington sought to get hold of Venezuela’s oil assets, has promised to bring to trial those who would recognize the new appointments.

PDVSA, whose assets worth $7 billion were blocked by the United States amid the political crisis in Venezuela, has called opposition-appointed board of directors of Citgo an attempt to "steal the wealth of the people".

US Treasury Secretary Steven Mnuchin told reporters that by blocking PDVSA assets, the United States was taking care of this company in the interests of the Venezuelan people.

On 23 January, the political crisis in Venezuela took a new turn when the speaker of the opposition-led Venezuelan National Assembly, Juan Guaido, declared himself interim president amid ongoing anti-government protests. Guaido's declaration was almost immediately recognized by the United States and some of its allies. EU member states were expected to issue a joint statement recognizing Guaido, but Italy vetoed the motion, according to a Sputnik source.

Russia, along with China, Mexico, Turkey, Uruguay and several other countries, has voiced support for Nicolas Maduro as the legitimate president of Venezuela.

Venezuela is one of the biggest oil producers in the world. The oil exports currently stand at way below 1 million barrels daily, which is a more-than 10 percent drop from December and a less than half decline from Venezuela’s oil production 18 months ago, according to the Wall Street Journal.
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