US-backed Venezuelan opposition leader Guaido will name a new Citgo board, Sen. Rubio tells the WSJ

In a bid to block Venezuelan President Nicolas Maduro from the country’s lucrative oil business, opposition leader Juan Guaido will name a new governance board for the country’s Citgo Petroleum, U.S. Sen. Marco Rubio told The Wall Street Journal on Wednesday.

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This comes after Guaido, supported by the U.S. President Donald Trump and several European nations, declared himself to be the country’s interim president in January. The U.S. has since placed sanctions on Venezuelan oil to weaken Maduro’s government and wrestle assets over to the opposition.

In an interview with the Journal, Rubio said the new board — which he said will be named « as early as today or tomorrow » — will be backed by the U.S. as Citgo’s controlling legal entity.

« We are aware that there may be new members elected to the Citgo Petroleum Corp. board of directors. In corporate governance, as with all matters, we will follow the laws of the United States, » a company spokesman told the Journal in a statement.

The Journal said it had yet to receive comment from Guaido’s officials, the U.S. Treasury and the White House. The Commerce Department has declined to comment.

Read more about Rubio’s remarks in The Wall Street Journal’s report.

Source: CNBC

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