Let them collect first, then we have something to fight for...

----

A federal judge of the United States authorized the embargo of the Citgo company on Thursday to satisfy the Venezuelan government debt. The National

The American newspaper The Wall Street Journal published that Judge Leonard P. Stark issued the sentence and that there is still no information available on the complete criterion.

The decision of the court can still be appealed to the Federal Court. Neither Petróleos de Venezuela's lawyers nor Citgo's representative have commented on it.

The measure was taken based on the demand introduced by the company Crystallex International Corp, a Canadian mining company that lost its mining rights due to the action of the Venezuelan government.

The Canadian company pointed to Citgo because it is the largest resource in Venezuela on American soil.

Although many of the creditors of the Venezuelan debt have contemplated taking Citgo, Crystallex is the first company to be authorized by the court to enforce the embargo. The decision favors the Canadian company to take control of the company and subsequently make its sale.

The only payment made this year by the Venezuelan government was the Pdvsa bond stipulated for 2020, of 107,000,000 dollars, for which Citgo was used as collateral.

Investors have expressed concern that PDVSA, without ownership of Citgo, may have little incentive to continue paying its international debt, The Wall Street Journal said.