Political adversaries in Venezuela are exploring unprecedented collaboration to protect the nation’s assets located within the United States, following Washington’s formal acknowledgment of interim President Delcy Rodriguez and the resulting confusion over legal representation in American courts.
Legal representatives for both Rodriguez’s administration and opposition forces submitted a joint request Monday to Manhattan-based U.S. Magistrate Judge Sarah Netburn, asking for a 45-day suspension of proceedings where creditors are attempting to claim funds connected to the state-owned oil enterprise Petroleos de Venezuela. The pause would allow time to establish proper legal representation for Venezuela’s interests.
This request indicates possible collaboration between previously hostile political factions in defending American assets, including the Houston-based oil refinery Citgo Petroleum, from various creditors. These creditors include bondholders of PDVSA and Venezuelan government debt, businesses that lost Venezuelan properties through expropriation, and individuals claiming damages from alleged terrorist activities.
Venezuela’s information ministry, responsible for handling government media inquiries, has not yet provided a response to requests for comment.
The relationship between Venezuela’s opposition and the country’s socialist administration has historically been marked by bitter conflict. Opposition forces have maintained control over American assets like Citgo since 2019, when Washington first implemented sanctions against PDVSA as part of efforts to pressure former President Nicolas Maduro, who is now imprisoned, to step down from power.
Following Maduro’s capture by American forces, Washington officially recognized Rodriguez as Venezuela’s legitimate leader in March. According to a Reuters report from April 1, citing four sources familiar with the transition, Rodriguez is now making preparations to assume control of PDVSA’s American subsidiary boards, including Citgo.
The American government’s recognition of Rodriguez’s administration led Judge Netburn to request clarification from all parties regarding who possessed the authority to speak for Venezuela in legal proceedings.
Judge Netburn approved the suspension request on Monday. Legal counsel for both the government and opposition are required to provide an update on selecting permanent legal representation for Venezuela’s interests by May 21.
