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Exclusive: Venezuela moves to replace U.S. executives on Citgo board - sources

by_marianna_parraga_and_deisy_buitrago
Exclusive: Venezuela moves to replace U.S. executives on Citgo board - sources

Citgo is facing unprecedented challenges to its finances and management after the U.S. government last week imposed tough sanctions on Petroleos de Venezuela [PDVSA.UL] designed to prevent oil revenue from going to leftist President Nicolas Maduro. The United States and dozens of other nations have refused to recognize Maduro, viewing his reelection last year to another six-year term as fraudulent. Venezuela's self-proclaimed president Juan Guaido is setting up bank accounts with U.S. help that would take income accrued by Citgo, Venezuela's top foreign asset, to finance an interim government.