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Wednesday, July 12, 2017

Venezuela-Russia deal threatens U.S. energy security


It is in this context of desperation that the Citgo-Rosneft deal was made, which now puts American energy infrastructure at risk. Congress has held multiple hearings on the deteriorating crisis in Venezuela, most recently in March. In April, an oversight letter was sent to U.S. Treasury Secretary Steven Mnuchin urging the Committee on Foreign Investment in the U.S. (CFIUS) to immediately review the 2016 Citgo-Rosneft asset transfer. Treasury responded, and Mnuchin testified before the Senate, acknowledging that the 2016 asset transfer “would be reviewed.” However, CFIUS has yet to conduct the review — even after members in the House and Senate have urged immediate consideration. More…

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