Venezuela Issues Arrest Warrant Against CITGO Illegal Directors

A refinery run by Venezuelan Citgo oil branch, Houston, U.S, 2018. | Photo: Twitter/ @CrainsHouston

On August 5, 2019, President Donald Trump signed a decree that removed the management of CITGO from the Venezuelan government.

Venezuela's Attorney General Tarek Saab announced an arrest warrant against two citizens who were illegally appointed as directors of CITGO, which is owned by the state-owned company PDVSA.

The arrest warrant was issued against Andres Yrigoyen who was appointed CITGO Board of Directors chairman and Ramon Pocaterra.

Subjected to the seizure of personal property and freezing of bank accounts, Yrigoyen and Pocaterra face charges for crimes such as conspiracy, usurpation of public functions, and obstruction of justice.

"I must remember that the self-proclaimed President Juan Guaido and the appointment of a CITGO ad-hoc board have prevented Venezuela from exercising a counterattack to the Crystallex lawsuit in a U.S. federal court," Saab said.

On January 16, Foreign Affairs Minister Jorge Arreaza rejected the decision taken by a U.S. court based in Delaware that ordered the sale of CITGO'S shares to favor the Canadian mining company Crystallex.

"This ruling, in the agonizing hours of the outgoing Donald Trump administration, confirms that the international relations of this administration are driven by hatred, looting, revenge, and abuse of power," Arreaza said.

Crystallex filed a lawsuit against the Venezuelan government in U.S. courts after it was nationalized for failing to comply with environmental regulations in 2011.

On August 5, 2019, President Donald Trump signed a decree that removed the management of CITGO from the Venezuelan government.

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