09:18 GMT07 June 2020
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    Political Crisis in Venezuela (579)

    WASHINGTON (Sputnik) - Venezuelan opposition leader Juan Guaido has appointed his own Board of Directors to lead the PDVSA-owned Citgo oil refiner, Guaido’s embassy in the United States said in a press release.

    "Guaido today appointed a new Board of Directors," the release said on Wednesday. "The incoming Citgo board is comprised of highly qualified experts carefully vetted for their independence and selected solely on the basis of merit."

    The new 6-member board includes CITGO officials and financial experts, according to the release.

    The US government recently seized billions of dollars in Venezuelan oil assets to transfer to Guaido, who proclaimed himself the country’s president on 23 January.

    READ MORE: Venezuela to Increase Oil, Gold Production in 2019 Amid Domestic Crisis — Maduro

    Venezuelan President Nicolas Maduro has accused the United States of orchestrating a coup while Russia and several other countries continue to support Maduro as the country’s only legitimate democratically-elected head of state.

    The United States and a number of other countries formally recognized Guaido as interim president. Russia, China and several other countries supported Maduro as the legitimate president of Venezuela.   

    On 28 January, the United States announced the imposition of sanctions on Venezuela's state-owned oil and natural gas company PDVSA, blocking the company's assets worth $7 billion remaining under the US jurisdiction.   

    Political Crisis in Venezuela (579)


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    crisis, Citgo, Juan Guaido, United States, Venezuela
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