Venezuelan officials knew of deal Citgo 6 were jailed for: Report

Three ministers knew about the proposed deal for Citgo to borrow up to $4bn, according to documents seen by Reuters.

Six executives of United States oil refiner Citgo have been jailed in Caracas on graft charges since 2017, but court documents seen by Reuters news agency show that top Venezuelan officials were made aware of the deal that the country’s top prosecutor accused the six executives of signing in secret. The documents, which have not previously been reported, show that during at least two board meetings of state oil company Petroleos de Venezuela (PDVSA), which owns the US refiner, top Venezuelan officials – including three ministers – were informed of the proposed deal for Citgo to borrow up to $4bn. The financing was never executed, and a Caracas court in late 2020 sentenced the six executives to between eight and 13 years in prison. Washington has accused Venezuelan President Nicolas Maduro of using the jailed executives as bargaining chips to seek policy concessions from the US.