Houston Chronicle by Sergio Chapa Oct. 11, 2019
U.S. Sen. Ted Cruz and six other members of Congress are asking President Donald Trump to avoid a situation that could put the Houston refining company Citgo in Russian hands.
In an attempt to unseat Venezuelan strongman Nicolas Maduro, the Trump administration placed harsh economic sanctions on South American nation and its state-run oil company Petroleos de Venezuela SA, or PDVSA — both of whom owe billions to the Russian oil company Rosneft.
Using Citgo as collateral, the Venezuela government received a $1.5 billion loan from Rosneft in 2016. On top of that, PDSVA is supposed to make a $915 million bond payment on Oct. 28 but if the Venezuelan company defaults, Cruz and the others fear that could trigger a chain of events that could end with Rosneft owning 49.9 percent of Citgo.
More:
https://www.houstonchronicle.com/business/energy/article/Ted-Cruz-to-Trump-Don-t-let-Citgo-fall-into-14515011.php
