Venezuela: Citgo to Take Steps to Shun SEC

Venezuela will take steps to stop its U.S. subsidiary, Citgo Petroleum Corp., from having to file public financial reports with the U.S. Securities and Exchange Commission, the oil minister said Thursday.

“As a state company, we cannot be subject to the legal obligations of foreign countries used to protect bondholders,” Oil Minister Rafael Ramirez told reporters.

“Citgo will also stay out” of giving the SEC any information, he said.
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