Wall Street Journal: Venezuela Misses $1 Billion Collateral Deadline to Protect Citgo

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Wall Street Journal: Venezuela Misses $1 Billion Collateral Deadline to Protect Citgo

posted on Jan 11, 2019 04:51PM

The embattled country failed to post collateral to keep its U.S. refineries from being sold off

Andrew Scurria

Updated Jan. 11, 2019 2:30 p.m. ET

Venezuela failed to put up nearly $1 billion in collateral to ensure its U.S. crude refineries stay under state control as President Nicolás Maduro begins a new six-year term in office, a person familiar with the matter said.

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