Venezuela Asks US Supreme Court to Rule on Legal Immunity of Citgo Parent

The Venezuelan government is asking the U.S. Supreme Court to revisit a lower court ruling allowing creditors to go after the assets of the parent of its government-owned oil company that does business in the United States as CITGO Petroleum.

A Citgo gas station during the COVID-19 pandemic in Southgate, Mich., on April 24, 2020. Gregory Shamus/Getty Images

The Venezuelan government is asking the U.S. Supreme Court to revisit a lower court ruling allowing creditors to go after the assets of the parent of its government-owned oil company that does business in the United States as Citgo Petroleum.

Any decision that the Supreme Court makes could affect an upcoming court-ordered auction of shares in Citgo’s parent company.