Guaido Says He’ll Take Over Venezuela Accounts, Name New Citgo Board

Patricia Laya and Andrew Rosati
Guaido Says He’ll Take Over Venezuela Accounts, Name New Citgo Board

(Bloomberg) -- Venezuelan opposition leader Juan Guaido said he’s taking control of government bank accounts abroad and is appointing people to Petroleos de Venezuela’s operations in other countries.

Guaido in a statement on his Twitter account said Venezuelan accounts will be transferred to “legitimate authorities” to prevent the further “looting” of state funds that could help citizens. The opposition-led legislature, of which he is the head, will oversee their disbursement, he said.

Supporters in the U.S., Latin America and Europe have hurried to recognize Guaido as the nation’s rightful leader, and have threatened sanctions or even military intervention if socialist President Nicolas Maduro moves against him. The U.S. on Monday imposed sanctions on PDVSA meant to strengthen Guaido’s chances of taking control.

Guaido on Monday also said he’s naming new boards for PDVSA and its U.S. refining arm, Citgo, to begin the recovering the nation’s mainstay industry. "We made this decision to ensure Citgo still belongs to Venezuelans," Guaido wrote.

In his statement, Guaido also called on Venezuelans working in state companies abroad to remain in place.

To contact the reporters on this story: Patricia Laya in Caracas at playa2@bloomberg.net;Andrew Rosati in Caracas at arosati3@bloomberg.net

To contact the editors responsible for this story: Daniel Cancel at dcancel@bloomberg.net, Stephen Merelman, Robert Jameson

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