Russia is about to gain control of a U.S. OIL company because Venezuela is collapsing

So thanks to the constant incompetence of communists everywhere, but especially in Venezuela, Putin is going to get his grubby little KGB fingers on a U.S. oil company.

Here’s what’s happening.

Rosneft, a Russian government-owned company, gave a loan to CITGO.

But Petróleos de Venezuela, Venezuela’s state-owned oil company, might default on a loan that used 49.9% of Citgo’s shares as collateral.

If Venezuela’s economic crisis continues and the company defaults, Menendez said Rosneft may take control of the shares, which would combine with the Russian company’s other interests in the company to give it majority control.



Dem. Senator Menendez has asked the White House to monitor the loan, and intercede to keep critical elements of our infrastructure from being owned by the Kremlin. Aside from the White House itself, of course.

“Given Russia’s interference in the U.S. election and ongoing meddling in European elections, not to mention its habit of invading and bullying its neighbors, the last thing the United States should be doing is handing the Kremlin a significant ownership share in a major U.S. energy supplier,” Menendez said in a statement.

“This could leave Rosneft, a Russian company controlled by oligarchs with close ties to [Russian President] Vladimir Putin, in control of critical energy infrastructure in the United States,” Menendez told Mnuchin in a letter.

Well shoot. That ain’t no good. Though I have to say that Citgo is consistently the cheaper gas to buy…

Here’s a good report about it:

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