OREANDA-NEWSIn the near future, a 49.9% stake in the American oil refining company Citgo, owned by the Venezuelan state-owned company PDVSA, may be transferred to Rosneft’s ownership, the Florida newspaper writes (it often covers events in Latin America). This can happen under two conditions:

  1. If the Venezuelan PDVSA makes an expected default on interest payment of $ 913 million on bonds maturing in 2020;
  2. And if the US Treasury does not intervene in the situation and doesn't revoke its previously issued permission to exercise security rights in respect of Citgo.

Currently, 100% of Citgo is pledged: 50.1% by PDVSA bondholders and 49.9% by Rosneft. The Russian company received a pledge as collateral for a loan of $ 1.5 billion issued by PDVSA in 2016. The payment date for PDVSA bonds is October 27th. According to the newspaper, analysts and insiders are sure that neither the official government of Nicolas Maduro, nor the parallel government of Juan Guaido will be able to pay such an amount, says Miami Herald.

The bonds provide a 30-day grace period after the payment date, during which you can still pay without default, the American News Agency wrote earlier.