The US Justice Department has informed a federal court that it will not impede a court auction of the shares in oil refiner Citgo Petroleum Corp's parent company,
PDV Holding, which could be seized by creditors of Venezuela. The US Treasury Department had protected Citgo from creditors with claims against Venezuela since 2020, but its change of stance will allow claims to be resolved through an auction or negotiation. Citgo is PDV Holding's only asset, and the company has been valued at $13bn. Citgo, which reported a record $2.8bn profit last year, has not commented on the issue. Photo by AgnosticPreachersKid, Wikimedia commons.