Citgo Auction: Tangled Legal Battle for Venezuela's Oil Giant
Update: 2025-09-18
Description
Citgo's fate hangs in the balance! A Delaware court is embroiled in a high-stakes auction for the Venezuelan-owned oil giant, with a recent New York ruling adding fuel to the legal fire. Creditors are battling for a piece of Citgo, Venezuela's most valuable foreign asset, in a case that could reshape the country's financial future. With the hearing now stretching into October, the world watches as Judge Stark's decision looms, promising major consequences for Citgo's ownership and Venezuela's economy.
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