trump exempts citgo from sanctions

http://thehill.com/policy/energy-environment/348007-trump-exempts-citgo-from-venezuela-sanctions

"President Trump is exempting Citgo Petroleum Corp., owned by Venezuela’s government, from the financial sanctions imposed Friday on the country."

"A subsequent disclosure form shows Citgo paid Avenue Strategies $80,000 through June and that Bennett lobbied the White House, the Energy Department, the Justice Department and the Treasury Department, which houses the unit that ultimately imposes sanctions.

In the first half of the year, Citgo spent $900,000 on lobbying, with the lion’s share going to Democratic operative Manuel Ortiz of VantageKnight, a shop he formed after leaving top K Street firm Brownstein Hyatt Farber Schreck. Ortiz, who earned $540,000 in the first six months of 2017 from the oil giant, has represented Citgo since 2014, according to federal forms.

Cornerstone Government Affairs is also on retainer, taking in $280,000 from July through June.

A senior administration official said that officials are also watching out for whether Rosneft, Russia’s state oil company, takes a significant stake in Citgo, which Venezuela put up as collateral for a loan from Russia.

Such a transaction, or trading that collateral for an interest in Citgo assets, could trigger new action against the company since Rosneft is already subject to United States sanctions, the official told reporters"
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http://newsok.com/article/2330274

"The Venezuelan national oil company will merge two Oklahoma-born companies "to achieve a stronger position" in the United States refining and marketing industry, company officials disclosed Thursday.

Champlin Refining and Chemicals Inc., based in Irving, Texas, will be combined with Tulsa-based Citgo Petroleum Corp., Petroleos de Venezuela S.A. (PDVSA) spokesman Kent Young said at a Tulsa news conference. The joint headquarters will remain in Tulsa."