AP Exclusive: Guaido’s Citgo snubs US execs in Caracas jail
BOGOTA — When the Trump administration paved the way for Venezuelan opposition leader Juan Guaido to name a new board to run the U.S. affiliate of Venezuela’s state oil company, it was a rare glimmer of hope for the American families of six oil executives jailed for over a year without a trial in the politically turbulent South American nation.
But a month later, the families complain they are being left to fend for themselves as much as ever by the men’s employer, Houston-based Citgo, which until the takeover had been the U.S. subsidiary of the Venezuelan oil giant known as PDVSA.
Citgo, the eighth largest refiner in the U.S. and Venezuela’s biggest foreign asset, has emerged as a major prize in the battle for power in Venezuela between President Nicolas Maduro and Guaido, who heads the opposition-controlled National Assembly and is recognized by the U.S. and about 50 other governments as the country’s legitimate leader. The families insist their loved ones are collateral damage in that high-stakes fight— first imprisoned on trumped-up charges by Maduro’s government and now overlooked by a U.S. administration hell-bent on regime change while Citgo is hounded by creditors and battered by U.S. sanctions on PDVSA.
Their travail began the weekend before Thanksgiving in 2017, when the six executives got a call from the head of PDVSA summoning them to Caracas for a last-minute budget meeting. Once there, armed and masked security agents burst into a conference room and arrested them on embezzlement charges stemming from a never-executed proposal to refinance some $4 billion in Citgo bonds by offering a 50 per cent stake in the company as collateral. Maduro himself accused them of “treason,” though they have not been charged with that crime.