Free Republic

NEW YORK — Russia is on the verge of taking control of a US oil company. In a crazy twist of international events, Russia’s state-owned oil company Rosneft might end up owning Citgo, a US energy company based in Houston, Texas. [snip] If PDVSA can’t pay its bills on time, Rosneft will almost certainly get control of Citgo. All Rosneft would need to do is buy a few more of PDVSA’s bonds to get over the 50% ownership threshold. “The Russians have a lot to gain through the PDVSA-Rosneft-Citgo asset transfer to the detriment of US interests,” wrote Republican Congressman...