Tag Archives: PDVSA

US government sanctions Petróleos de Venezuela, authorizes US persons to engage in certain limited transactions

By: Ignacio E. Sanchez and Melanie Garcia The United States government has issued new sanctions in response to the growing unrest in Venezuela. On January 23, the United States recognized Juan Guaido as the new interim President of Venezuela. Nonetheless, Nicolas Maduro has refused to step down. US Secretary of State Mike Pompeo stated that … Continue Reading

$1.2B order entered against Petroleos de Venezuela: Q&As for PDVSA and Citgo commodity commercial and trading counterparties

By:  Robert J. Gruendel, Mark A. Waite, Deanna R. Reitman   The United States District Court for the District of Delaware has issued an order and supporting lengthy opinion allowing a judgment creditor holding a $1.2 billion judgment against the Bolivarian Republic of Venezuela to attach common stock owned by Petróleos de Venezuela, S.A. (PDVSA), the national … Continue Reading