Venezuela National Assembly Names PDVSA Petrochemical Subsidiary's Directors Board- Guaido

Venezuela National Assembly Names PDVSA Petrochemical Subsidiary's Directors Board- Guaido

The opposition-led Venezuelan National Assembly, which all the other governmental branches have been refusing to recognize since 2016, has appointed its ad-hoc board of directors of petrochemical enterprise Petroquimica de Venezuela (Pequiven) a subsidiary of state-owned energy company PDVSA self-proclaimed interim president of Venezuela Juan Guaido wrote on Twitter on Wednesday

MEXICO CITY (UrduPoint News / Sputnik - 20th March, 2019) The opposition-led Venezuelan National Assembly, which all the other governmental branches have been refusing to recognize since 2016, has appointed its ad-hoc board of directors of petrochemical enterprise Petroquimica de Venezuela (Pequiven) a subsidiary of state-owned energy company PDVSA self-proclaimed interim president of Venezuela Juan Guaido wrote on Twitter on Wednesday.

The National Assembly has also named the board of directors of Pequiven's branch in neighboring Colombia, Monomeros Colombo Venezolanos.

This move is reportedly aimed at enabling Guaido to gain control of Venezuela's assets abroad.

The US office of Guaido, who was swiftly recognized by Washington when he proclaimed himself interim president, announced new board of directors of CITGO the US-based PDVSA subsidiary in February.

While PDVSA called the appointment an attempt to "steal the wealth of the people," and Venezuelan President Nicolas Maduro promised to bring to trial those who would recognize the new appointments, Guaido said that it was the Venezuelan government that wanted "to steal everything."

After the political crisis broke out in Venezuela in late January, the United States has imposed several rounds of sanctions against Venezuelan officials and entities and blocked $7 billion in assets belonging to PDVSA. Maduro has denounced the sanctions as an illegal attempt to seize Venezuela's sovereign assets. The Venezuelan government has also decided to relocate PDVSA office from Lisbon to Moscow and open a subsidiary in Russia, which supports Maduro as the legitimate leader of Venezuela.