The U.S. Treasury Department on Monday amended a Venezuela license to prevent any unauthorized changes that could alter governance at Venezuela-owned refiner Citgo Petroleum and its parent companies in the United States, PDV Holding and Citgo Holding.
Venezuela's interim President Delcy Rodriguez has moved this year to regain control of the country's assets overseas and has changed law firms representing the nation in foreign court cases, following the formal recognition of her government by Washington.
Citgo's board of directors - appointed after an opposition-led National Assembly in Venezuela in 2019 severed the refiner's ties with its ultimate parent PDVSA - has not suffered any major changes recently, but opposition-controlled entities supervising Citgo are expected to cease their role soon.
The Treasury's measure blocks the "appointment, removal or replacement of any director, officer or other corporate governance official" at Citgo and its U.S. parent companies, the department's Office of Foreign Asset Control said in the amended license.
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