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U.S. Shields Citgo From Creditors in Win for Venezuela’s Guaido

Oct. 24, 2019, 9:19 PM

Venezuela’s opposition scored a last-minute victory Thursday as the Trump administration stepped in with a measure to protect the nation’s most prized asset abroad from creditors before a key debt payment.

The U.S. Treasury Department updated its sanctions guidelines to temporarily put transactions pertaining to Petroleos de Venezuela’s 2020 bonds, backed by 50.1% of Citgo Holding Inc.’s shares, on the same footing as other financial deals that are prohibited. Timing was of the essence: Advisers to National Assembly President Juan Guaido said they lacked the funds to make a $913 million debt payment due Monday.

Washington’s decision to ...