Friday, February 21, 2025

Citibank Stuck with Venezuela’s PDVSA

From Stratfor Despite having tendered its resignation in July, Citibank will keep representing Venezuela’s state-owned oil company, Petroleos de Venezuela (PDVSA). On Sept. 7, PDVSA announced that the bank would continue to act as its pay agent. In fact, it appears that Citibank is contractually obligated to maintain its position until a new pay agent has been found to replace