OilPrice.com: U.S. Oil Assets Could Fall Into Russian Hands If Venezuela Defaults
If Venezuela defaults on its debt obligations, it could result in Russia taking control over U.S. refining assets, leading to more Russian “control over oil and gas prices worldwide,” which would “inhibit U.S. energy security, and undermine broader U.S. geopolitical efforts.”
That is the warning from two members of Congress, Reps. Jeff Duncan (R-SC) and Albio Sires (D-NJ). The two Congressmen sent a joint letter to the U.S. Secretary of Treasury Steven Mnuchin, requesting his attention on the matter. A bipartisan group of six U.S. Senators also requested a response from Secretary Mnuchin on the matter.
They cite the fact that Russia’s government-backed oil company, Rosneft, gave Venezuela’s state-owned oil company, PDVSA, a $1.5 billion loan. As collateral, PDVSA offered up 49.9 percent of Citgo, a subsidiary of the Venezuelan oil company. Citgo owns three refineries in the U.S., along with pipelines and retail gas stations.
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WNU Editor: If Venezuela defaults, Russia would get 49.9% of the company .... Washington raising red flag over Russian control of US energy supplier (RT).
More News On US Congressional Worries That Russia May Takeover A US Oil Company
Russia could soon control a U.S. oil company -- CNN
Will Russia's Oil Company Take Over U.S. Citgo? Lawmakers Raise Alarm -- FOX News
Dem warns Russia may gain control of US oil company -- The Hill
US Oil Company Could Fall to Russia as Venezuela Struggles to Pay Its Bills -- Newsweek
US Senate Joins House in Call for Review of Venezuela PDVSA Deal with Russia's Rosneft over Citgo -- Latin American Herald Tribune