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High Stakes in Citgo Auction: Venezuela's Debt, U.S. Courts, and Billion-Dollar Bids Collide

Summary by Devdiscourse
The U.S. court-organized auction of Citgo Petroleum has reached its final phases, with significant bids from various entities. Creditors seek compensation from Venezuela's expropriated assets, but challenges remain due to legal complexities and geopolitical factors, including U.S. sanctions. The auction outcome will significantly affect Venezuela's most vital overseas asset.

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The Oil Industry of Serbia (NIS) announced today that it has sent a new request to the United States Department of the Treasury for the issuance of a special license that postpones the full implementation of US sanctions announced due to the Russian stake in NIS.

·Belgrade, Serbia
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21-06-25.-The U.S. Treasury Department reported this Friday, June 20 that it issued a modified general license that protects until December the U.S. subsidiary of state oil company Pdvsa, the refiner Citgo Petroleum, from its creditors

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n1info.rs broke the news in Novi Beograd, Serbia on Friday, June 20, 2025.
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