Venezuelan Opposition Faces Loss of Citgo Control as Asset Sale Awaits Treasury Approval

The Venezuelan opposition, which controls Citgo through a U.S.-based entity, may lose that control as a $5.9 billion sale of the refiner's assets to an Elliott Investment Management subsidiary awaits U.S. Treasury approval. The sale is part of efforts to recover the company amid ongoing creditor claims. Approval would mark a significant shift in the disposition of a key Venezuelan state asset, potentially altering the opposition's leverage and the broader geopolitical contest over Venezuelan assets.