Here is a brand new translated article published by Venezuelan media about how Rusoro Mining (TSXV: RML) and other creditors of Venezuela are about to "steal" Citgo:
Maduro says Venezuelan "ultra-right" is responsible for them 'stealing Citgo'
The president of Venezuela, Nicolás Maduro, said Monday that the "ultra-right" of the Caribbean country is responsible for the United States is "stealing Citgo", a subsidiary of the state oil company PDVSA in the North American nation.
"All those services ... necessary for the functioning of the country they were cut off by kidnapping Citgo and, now, this Government of the United States has already tried to give the final thrust (...) to all Venezuelans. Because of whom? From the extreme right (...) that extreme right bandit are responsible for the fact that they are stealing Citgo from us," Maduro said during his weekly television program.
On May 1, the US Treasury Department decided, through general license number 42, not to take "coercive measures" to block the auction or a negotiated agreement on Citgo.
The license authorizes the Parliament of the 2016-2021 period, formed by a large opposition majority and relieved in 2021 by a Legislative of Chavista majority, to carry out "certain transactions" in relation to "any debt of the Government of Venezuela", PDVSA or "any entity" in which the state owns "a stake of 50% or more".
The decision also allows the "negotiation of conciliation agreements" with people appointed by this Legislature, considered by the US as the last democratically elected institution in Venezuela. Maduro assured that Venezuela is preparing with the Bill for the Protection of the Assets of the Republic Abroad, in which the national Parliament is working, with the aim of "taking a step in the protection" of Venezuelan assets abroad.
He added that Venezuela has stopped receiving "more than 900 million dollars per month" for the "dispossession" of Citgo. On May 4, the president said that what the US government does with the PDVSA subsidiary "is unparalleled."
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NIA first suggested Rusoro Mining (TSXV: RML) on March 9, 2022, at $0.05 per share and sometime in 3Q 2023 we expect RML to make a run to $0.30-$0.50 per share as they move to collect their US$1.7 billion.
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