Venezuela’s state oil company plans to appeal a U.S. ruling that would allow one of the country’s creditors to seize a major source of dollars—Citgo Petroleum.
The outcome of the legal battle is expected to determine whether Venezuela is able to retain control of the U.S.-based refiner. Dozens of creditors who have gone unpaid are scrambling amid the country’s economic collapse and political crisis. A federal judge in Delaware ruled late Thursday that a creditor could seize Citgo, and his redacted opinion was unsealed on Friday.
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