Officials and lawmakers are concerned that Rosneft, a major creditor to Citgo’s parent firm, could end up owning key energy infrastructure in the U.S.
U.S. financial authorities are looking into the Russian government’s growing leverage over Citgo Petroleum Corp. amid heightened concern that the Kremlin is seeking to use energy as a political weapon against the U.S., according to U.S. and congressional officials.
Russia’s state-owned oil giant PAO Rosneft in recent months has amassed debt that is backed by a near-controlling stake in Citgo, the Houston-based subsidiary of Venezuela’s Petróleos de Venezuela SA, or PdVSA. In the event of a debt default—a prospect seen as increasingly likely by U.S. officials and Wall Street—Rosneft would be in a position to engineer a takeover .... https://www.wsj.com
