Third Circuit decision on Citgo could be big for Juan Guaido's ability to exert power.
whether companies who have lost assets to Venezuelan government expropriation can obtain compensation from Citgo, a US-based wholly owned subsidiary of the Venezuelan state oil company, PdVSA. The district court decided that Citgo can be forced to make compensation, but it is now up to the appellate court.
A Citgo gas station, the US-based subsidiary of the Venezuelan state oil company PDVSA, is seen in Washington, DC, January 31, 2019. - Citgo was was key to Venezuelan President Nicolas Maduro's fight to stay in power as US sanctions imposed againstGuaido’s attorneys apparently sided with Citgo’s and the Venezuelan government’s argument that those harmed by Venezuela should not be able to force compensation from Citgo.
Venezuelan opposition leader and self-proclaimed interim president Juan Guaido presides a consultation commission meeting at the Federal Legislative Palace, which houses both the opposition-led National Assembly and the pro-government NationalThis decision may have more extensive implications as well.
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