The fraudulent ploy organized by the government of outgoing Donald Trumps and the self-proclaimed member of the Popular Will party, Juan Guaidó, achieved a step forward in the hatched plan to confiscate PDVSA assets in the United States.
A judge from Delaware, United States, authorized the sale of the shares of Citgo, the main subsidiary of the state company Petróleos de Venezuela (PDVSA) on US soil, in compensation to Crystallex for the nationalization, more than a decade ago, of a gold deposit operated by the Canadian mining company in that South American country.
In addition, the federal district judge, Leonard Stark, dismissed motions presented by both Citgo Petroleum and its parent, PDV Holding (PDVH), and by Venezuela to stop the embargo.
"Popular Will organized a great fraud and fraud operation against the Republic to strip the country of PDVSA assets abroad," the Executive Vice President of the Republic, Delcy Rodríguez, had recently denounced.
Also, the political analyst Domingo Alberto Rangel, expressed in one of his articles that “so many absurdities, crimes and breaches of ethics have never occurred in our history that border on treason, as just happened when the Venezuelan nation lost its most valuable asset outside the country –Citgo– through an act of legal piracy ”.
The plan to seize assets from the Nation has in its plot the decision of Guaidó and his accomplices, to have established a fraudulent representation of the Republic and of illegal PDVSA, which led to the promulgation of the sentence, which executes an award issued by the Arbitral Tribunal of the International Center for Settlement of Investment Disputes (ICSID), for a value of 1,2 billion dollars, based on a claim made by the Canadian company Crystallex against the Bolivarian Republic of Venezuela, even though neither PDVSA, neither Citgo, nor PDV Holding, are debtors of Crystallex nor were they subjects of the proceedings before the ICSID Arbitral Tribunal.
Guaidó's representation is made up of lawyers Carlos Vecchio, José Ignacio Hernández and Alberto Federico Ravell Nolck, confessed opponents of the Government of Venezuela and with strong ties to transnational companies such as Exxon Mobil, Crystallex, Owen Illinois and Conoco Phillips. They have directed their actions from the US against PDVSA, the main national industry.
With the ruling, the United States shows that Guaidó's self-proclamation was just one step in the plan to deliver assets from the country (Citgo), so that the transnationals (Cristallex) would collect alleged debts and turn around.
The ruling also highlights what was said by the PDVSA Commissioner Report 2018, which concludes that the usurpation of Citgo is a subversive act against the principles of the World Trade Organization (WTO) and constitutes a dangerous and unprecedented precedent in the commercial sphere of the United States that would put any investment at risk, regardless of the country of origin.
In this way, Guaidó adds another link to the chain of fraud committed against the Republic, from the moment the old PDVSA bought Citgo in 1987.
"The mechanism used for this diversion of national resources out of the country, together with the purchase of 19 junk refineries, was precisely the multiplication of corporations-dams abroad, especially in tax havens", narrates the oil expert Carlos Mendoza Potellá.
During the Oil Opening implemented in the 80s and early 90s, PDVSA's senior management, called Meritocracia, created 87 companies abroad with the purpose of evading payments to the national treasury and taking oil revenues from the country. As an example of resources that should have entered the national treasury and were given to the US treasury, what was stated in the 1999 PDVSA Commissioner's Report, which states: “… it should be noted that the sale price of crude oil is lower than the price of market, means a transfer to the North American treasury according to the following detail: it increases CITGO's earnings by 210 million dollars, with a tax effect [North American, nn] estimated at the nominal rate of 71 million dollars and decreases the
PDVSA's earnings of 210 million dollars, which represents a nominal decrease in Venezuelan income tax of 142 million dollars ”.
It stands out that only in 2001 did the “great business! It “moved” 27.000 million dollars in sales income, generating “profits” of 638 million, from the discounts made by PDVSA in Venezuela to oil supplies sent to its external subsidiaries, for 936 million, an average of 2,2 dollars. per barrel to contain real losses, in addition to new investments to continue converting scrap into operating equipment for 517 million. Potellá observed a similar behavior in the previous 3 years shown, adding that this behavior was not different in the following years, "until the last of which we have records, 2016."
"And PDVSA's own five-year figures are worth" adorned "in its Annual Management Report for that year." “Its ruinous results have been exposed in many of its own works and those of other authors, but awareness of these adverse circumstances has been clouded by the profuse propaganda about the mythical“ fourth largest oil company in the world.