Venezuela National Assembly Names PDVSA Subsidiary's Directors Board - Guaido

06:12 GMT, 20 March 2019

MEXICO CITY (Sputnik) - The Venezuelan National Assembly, which all the other governmental branches have been refusing to recognise, has appointed its ad-hoc board of directors of petrochemical enterprise Pequiven (a subsidiary of state-owned energy company PDVSA), self-proclaimed interim leader of Venezuela Juan Guaido claimed.

Sputnik

The National Assembly has also named the board of directors of Pequiven's branch in neighbouring Colombia, Monomeros Colombo Venezolanos.

This move is reportedly aimed at enabling Guaido to gain control of Venezuela's assets abroad.

The US office of Guaido, who was swiftly recognised by Washington when he proclaimed himself interim president, announced a new board of directors of CITGO (the US-based PDVSA subsidiary) in February. While PDVSA called the appointment an attempt to "steal the wealth of the people," and Venezuelan President Nicolas Maduro promised to bring to trial those who would recognize the new appointments, Guaido said that it was the Venezuelan government that wanted "to steal everything."

PDVSA’s Subsidiary Seeking $1.2 Bln Loan Amid US Sanctions Against Venezuela

9 March 2019, 14:18 GMT

After the political crisis broke out in Venezuela in late January, the United States has imposed several rounds of sanctions against Venezuelan officials and entities and blocked $7 billion in assets belonging to PDVSA. Maduro has denounced the sanctions as an illegal attempt to seize Venezuela’s sovereign assets.

The Venezuelan government has also decided to relocate the PDVSA office from Lisbon to Moscow and open a subsidiary in Russia, which supports Maduro as the legitimate leader of Venezuela.