Editing Citgo (section)

====Crisis in Venezuela====
{{further|Crisis in Venezuela (2012–present)}}
Following the death of [[Hugo Chávez]] in 2013, his successor [[Nicolás Maduro]] presided in office through an era of economic depression caused by decreasing oil prices and sanctions.<ref>{{cite press release| url=https://www.moodys.com/research/Moodys-Political-risk-poses-major-challenges-to-credit-in-Latin--PR_371832| title=Moody's: Political risk poses major challenges to credit in Latin America| date=August 29, 2017| publisher=[[Moody's Investors Service]]| access-date=2017-08-30|archive-url=https://web.archive.org/web/20170830060201/https://www.moodys.com/research/Moodys-Political-risk-poses-major-challenges-to-credit-in-Latin--PR_371832| archive-date=2017-08-30| url-status=dead}}</ref><ref name=FPmarch2013>{{cite news| last1=Corrales| first1=Javier| title=The House That Chavez Built| url=https://foreignpolicy.com/2013/03/07/the-house-that-chavez-built/| access-date=6 February 2015| newspaper=[[Foreign Policy]]| date=March 7, 2013}}</ref><ref name=WHARTON>{{cite web |title=Post-Chavez, Venezuela Enters a Downward Spiral |url=http://knowledge.wharton.upenn.edu/article/post-chavez-venezuela-enters-downward-spiral/ |website=[[Wharton School of the University of Pennsylvania]] |access-date=21 February 2015}}</ref>  The destabilized economy resulted in [[hyperinflation]], an [[economic depression]], [[shortages in Venezuela]] and drastic increases in poverty, disease, child mortality, malnutrition, and crime.<ref name="ELPAISfeb2015">{{cite news |last1=Scharfenberg |first1=Ewald |title=Volver a ser pobre en Venezuela |trans-title=Becoming poor again in Venezuela |url=http://internacional.elpais.com/internacional/2015/01/30/actualidad/1422646346_475356.html |access-date=3 February 2015 |newspaper=[[El País]] |location=Madrid |date=February 1, 2015}}</ref><ref name="NYThyperinflation">{{cite news |last1=Herrero |first1=Ana Vanessa |last2=Malkin |first2=Elisabeth |title=Venezuela Issues New Bank Notes Because of Hyperinflation |url=https://www.nytimes.com/2017/01/16/world/americas/nuevos-billetes-venezuela-new-banknotes.html?_r=0 |access-date=17 January 2017 |newspaper=[[The New York Times]] |date=January 16, 2017 |url-access=subscription }}</ref><ref name=poverty80>{{cite news| title=Chamber of Commerce: 80% of Venezuelans are in poverty| url=http://www.eluniversal.com/noticias/daily-news/chamber-commerce-venezuelans-are-poverty_247647| access-date=4 April 2016| newspaper=El Universal| date=April 1, 2016| archive-url=https://web.archive.org/web/20160404181203/http://www.eluniversal.com/noticias/daily-news/chamber-commerce-venezuelans-are-poverty_247647| archive-date=2016-04-04| url-status=dead}}</ref><ref name="VENdepression">{{plainlist|{{bullet}}{{cite news| last1=Gillespie| first1=Patrick| title=Venezuela shuts border with Colombia as cash crisis escalates| url=https://money.cnn.com/2016/12/12/news/economy/venezuela-shuts-colombia-border-cash-crisis/| access-date=17 January 2017| work=[[CNNMoney]]| date=December 12, 2016}}
{{bullet}}{{cite news| last1=Gillespie| first1=Patrick| title=Venezuela: the land of 500% inflation| url=https://money.cnn.com/2016/04/12/news/economy/venezuela-imf-economy/| access-date=17 January 2017| work=CNNMoney| date=April 12, 2016}}<br />{{bullet}}{{cite news| last1=Rosati| first1=Andrew| title=Venezuela's Economy Was the Worst Performing of 2016, IMF Estimates| url=https://www.bloomberg.com/news/articles/2017-01-11/goodbye-recession-hello-depression-venezuela-gdp-takes-10-hit| access-date=17 January 2017| work=Bloomberg News| date=January 11, 2017}}}}</ref> As a result of the crisis, Venezuela's debt to [[China]] and [[Russia]] – two political allies – increased.<ref name="NEWSoct17">{{cite news| last1=Valencia| first1=Robert| title=Don't Worry About War with North Korea — Venezuela Is the Real Problem| url=https://uk.news.yahoo.com/don-t-worry-war-north-205256520.html| access-date=15 October 2017| magazine=[[Newsweek]]| date=October 14, 2017| quote=In the event that Venezuela is unable to pay off its debt to Russia, the Maduro administration is using CITGO as its guarantee. In April 2017, it was unclear how Venezuela's state-oil company PDVSA—CITGO's parent company—would pay Russian loans. As a result, Russia's state-oil company Rosneft could potentially own CITGO, which is based in Houston. Democrat and Republican legislators sent letters to Trump, members of Congress and senators alerting that this could pose a danger to U.S. national security should Russia acquire the company}}</ref> Due to the financial burden of this debt, Venezuela offered Citgo as collateral for Russian debt in 2016, raising the possibility that the Russian government could own Citgo due to [[Default (finance)|Venezuela's high risk of default]].<ref name="NEWSoct17"/>

In July 2018, Citgo president [[Asdrúbal Chávez]] had his work and tourist visas revoked by the United States and was ordered to leave the country within thirty days.<ref>{{cite news| url=https://www.lapatilla.com/2018/07/18/extraoficial-autoridades-de-estados-unidos-anularon-la-visa-de-asdrubal-chavez/| title=Extraoficial: Autoridades de Estados Unidos anularon la visa de Asdrúbal Chávez| first=César| last=Batiz| date=July 18, 2018| newspaper=[[La Patilla]]| access-date=2018-07-18| language=es-ES| trans-title=Unofficial: US authorities annulled Asdrúbal Chávez's visa}}</ref>