Judge Rules In Favor Of PDVSA In Citgo Bond Dispute

A U.S. judge ruled that bonds issued by Venezuela’s PDVSA were “valid and enforceable”, putting a spoke in the wheels of Venezuelan opposition plans to take control of the state energy company’s most prized asset: U.S. refiner Citgo. According to a Reuters report citing court documents, the ruling came in response to a lawsuit filed against PDVSA by the opposition led by Juan Guaido last year. The lawsuit claimed the bonds were “absolutely fraudulent” and were issued without first getting the approval of Venezuela’s…