Venezuelan Government and Opposition Seek Joint Legal Defense of US Assets

The Venezuelan government and its political opposition are considering a joint legal strategy to protect the nation’s assets in the United States, notably the Houston-based oil refiner Citgo Petroleum. Attorneys for both parties have asked US Magistrate Judge Sarah Netburn in Manhattan to delay for 45 days a case involving creditors aiming to seize funds associated with the state oil company, Petroleos de Venezuela. This collaboration comes after Washington recognized interim president Delcy Rodriguez as Venezuela's leader in March, following the capture of imprisoned president Nicolas Maduro by US forces. Rodriguez is set to assume control of the boards of PDVSA's US subsidiaries, including Citgo, as reported by Reuters on April 1. Since 2019, the opposition has managed US assets like Citgo due to sanctions imposed on PDVSA to pressure Maduro. Creditors pursuing seizure include holders of PDVSA debt, companies whose assets were nationalized, and victims of alleged terrorism. The Venezuelan information ministry has yet to respond to media inquiries. Historically, relations between the opposition and the socialist government have been fraught.