U.S. Weighs New PDVSA Sanctions as Next Step Against Maduro

The U.S. is also bracing for a possible bankruptcy filing by Citgo Petroleum Corp., an American refiner controlled by PDVSA, according to Representative Michael McCaul of Texas, the top Republican on the House Foreign Affairs Committee, and a person who was briefed by the Trump administration. Citgo has already hired a law firm to help it weigh its strategic options, including potential bankruptcy, Bloomberg News reported last month, though an American official told reporters on Jan. 31 that Citgo was one of Venezuela’s most important assets and the administration seeks to keep it viable.