Venezuela Strikes Deal To Save Citgo From Seizure

Venezuela managed to retain ownership of Citgo, the big U.S. refining and gasoline marketing company that is one of its few remaining sources of hard currency, according to a report.

In August, Canadian mining company Crystallex International got a court order authorizing the sale of Citgo’s U.S. parent to satisfy a $1.2 billion debt of the cash-strapped country, Reuters said Sunday.