Venezuelan oil company PDVSA plans to expel US leaders from Citgo's board of directors

Venezuelan National Oil Company PDVSA take steps to replace at least two American leaders the board of directors of its Houston-based subsidiary Citgo Petroleum Corp, according to sources close to the decision.

Citgo Faces unprecedented challenges for your finances and administration after the US government imposed severe sanctions against PDVSA Last week, it was planned to prevent dictator Nicolás Maduro from drawing revenue from oil sales from that country.

The United States and dozens of countries have refused to recognize Maduro, for having considered as fraudulent his reelection last year to govern the country for a new badennium.

The acting president of Venezuela, Juan Guaidó, which has been proclaimed before "usurpation" of power by Maduro, creates bank accounts with the help of the United States to gain access to export earnings, including sales to Citgo, Venezuela's main badet abroad.

Citgo's board of directors includes at least two US citizens, Art Klein and Rick Esser, as well as Venezuelans Asdrúbal Chavez, Frank Gygax, Nepmar Escalona, ​​Simón Suárez and Alejandro Escarrá, according to a person familiar with the case.

Citgo also has a broader executive board, also composed of other vice-presidents, a treasurer and a comptroller general, among others.

PDVSA and Citgo did not respond immediately to requests for comments. Esser and Klein did not respond to phone calls or e-mails sent by Reuters to comment on their situation at the branch.

It was unclear whether the PDVSA board of directors in Caracas had approved the changes to Citgo's board and which would replace US leaders.

(With information from Reuters / Marianna Párraga)