The Special Prosecutor’s Office of the Republic of Venezuela detailed on Tuesday, through a statement, on the protection of the U.S. Treasury Department (U.S.) has granted to Citgo, an oil company which is associated with PDVSA.
Here is the full statement:
On December 9, 2019, the U.S. Department of the Treasury, through the Office of Foreign Assets Control (OFAC), published two replies to questions arising from the sanctions regime related to Venezuela, in which it ratified that no creditor can obtain embargo measures or other judicial decisions against properties blocked in Venezuela, including the properties of Petróleos de Venezuela (PDVSA) in the United States, such as CITGO. OFAC further clarified that it is also not possible to advance in judicial sale processes of such properties.
This clarification strengthens the protection of Venezuelan assets in the United States, especially CITGO. A new achievement reached after the recognition of the President of the National Assembly, Deputy Juan Guaidó, as President in Charge of Venezuela.
These asset protection measures enable the Legitimate Government of Venezuela to continue advancing in the reconciliation of private claims against Venezuela in an orderly and consensual manner, as stated in the guidelines published by this Office on July 1, 2019.