The US-based CITGO, subsidiary of Petróleos de Venezuela (PDVSA), has reported a loss of more than $300 million, after being confiscated by the north american country.
This was denounced this Wednesday by the Chancellor of Venezuela, Jorge Arreaza, during a meeting of solidarity with Venezuela, held in Madrid, Spain.
“Citgo, a company 100% owned by the Venezuelan State, reported a profit of more than 600 million dollars during the first quarter of last year; today, in the hands of representatives (of the national and international right wing) it does not even reach 300 million dollars, they do not even know how to manage a successful company”, said Arreaza.
In that sense, the Venezuelan diplomat said that “we are a continent in dispute for 200 years when the US began to apply different policies to incorporate mainly to the original peoples … We are the possibility of a future”, said Arreaza.
Regarding the current economic situation that Venezuela is going through – a product of the unilateral measures promoted by the US administration – he stated that “the challenge of the Bolivarian Government is to be able to establish economic recovery, (the US may take any action) but the result will be that the Venezuelan productive forces will prevail”, said the Chancellor.