News & Analysis as of

Citgo

US Imposes Sanctions Targeting Debt, Equity, and Securities of the Venezuelan Government and PdVSA

by White & Case LLP on

On August 24, 2017, President Trump signed Executive Order 13808 entitled "Imposing Additional Sanctions with Respect to the Situation in Venezuela." EO 13808, which became effective on August 25, 2017, prohibits certain...more

Trump Administration Imposes Targeted Financial Sanctions on Venezuela

by Jones Day on

On August 24, 2017, President Donald Trump issued an Executive Order imposing new sanctions intended to restrict financing connected to the Government of Venezuela. These sanctions supplement existing sanctions imposed by the...more

New US sanctions target Venezuela's debt and equity financing

by Dentons on

On August 25, 2017, US President Donald Trump issued an executive order (EO) limiting the government of Venezuela's ability to access certain types of international financing. The new measures build on existing sanctions...more

New Sanctions Target the Government of Venezuela's Access to US Capital Markets

On August 25, 2017, the U.S. government dramatically increased sanctions on the government of Venezuela. Unlike the Venezuela-related sanctions already in effect, which are list-based and to date have targeted only specific...more

President Trump and OFAC Announce Targeted Economic Sanctions on Venezuela

On August 25, 2017, President Trump issued an Executive Order (EO) imposing economic sanctions related to Venezuela. The new measures prohibit U.S. persons from engaging in certain debt-, equity-, and securities-related...more

New Executive Order Ramps Up Sanctions Against Venezuela and Petroleos de Venezuela S.A.

by Holland & Knight LLP on

• President Donald Trump has issued an Executive Order (the E.O.) imposing additional sanctions with respect to the situation in Venezuela, and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has...more

AD-ttorneys@law

by BakerHostetler on

“Iron Mike” Tyson is a controversial sports figure who seems in equal parts loved and loathed by the public. Celebrated for a genuine world-class talent and derided for his behavior in and out of the ring, Tyson has a public...more

Blogster's Miscellany: Bromance and Other Unusual Twists of Political Life

by PretiFlaherty on

ONE WAY IN WHICH KRAFT’S ARE AS BIG AS BELICHICK’S: The Kraft-Trump bromance is a jarring reality of public life today in Massachusetts. Why does Bob love Donald is right up there with why does Massachusetts still have a...more

Red Flags Squelch Corrupt PDVSA Deal

by Thomas Fox on

As the Petrobras corruption scandal seems to be going strong, we turn our attention to what may be the most corrupt of all the national energy companies, the Venezuelan state oil company Petroleos de Venezuela SA (PDVSA)....more

New Judge, Same Result – $81 Million CWA Civil Penalty Appealed

by Liskow & Lewis on

U.S. District Court Judge Dee Drell (Western District, LA) recently denied a motion to alter or amend the Court’s judgment against CITGO Petroleum Corp.– allowing an $81 million judgment against the oil company to...more

Courts Must Determine The Economic Benefit Of Noncompliance In Assessing CWA Penalties

It is well-known that the “economic benefit of noncompliance” is one of the factors to be evaluated in setting penalties under the Clean Water Act. Thus, it is not surprising that, after an oil spill at Citgo’s facility in...more

Migratory Bird Treaty Act: Question Of Unintentional “Take” Primed For Potential Fifth Circuit En Banc Or Supreme Court Review

by BakerHostetler on

Recently, industry won a major legal victory regarding liability—or lack thereof—for unintentional and indirect bird deaths under the Migratory Bird Treaty Act (MBTA). Unfortunately, that victory could be short lived,...more

Fifth Circuit Reverses Citgo Convictions Under Clean Air Act and Migratory Bird Treaty Act

by Baker Donelson on

The U.S. Court of Appeals for the Fifth Circuit, in United States v. CITGO Petroleum Corp., No. 14-40128 (5th Cir. September 4, 2015), reversed the district court’s convictions of Citgo Petroleum Corp. (Citgo) for alleged...more

Citgo Prevails Over EPA at the Fifth Circuit

by Gray Reed & McGraw on

USA v. Citgo Petroleum highlights the excruciating degree of detail in federal regulations and the gymnastics the EPA will employ justify a prosecution. The Fifth Circuit has reversed Citgo Petroleum’s conviction for...more

Court Limits Migratory Bird Treaty Act Applicability to Incidental Take

by Latham & Watkins LLP on

On September 4, 2015, the US Court of Appeals for the Fifth Circuit issued a ruling in United States v. CITGO that a “taking” subject to prosecution under the Migratory Bird Treaty Act (MBTA) does not include the...more

Liability for Unintentional Bird Deaths Still Up in the Air

The recent Fifth Circuit Court of Appeals decision that unintentional bird deaths under the Migratory Bird Treaty Act (“MBTA”) are not “takes” under the MBTA and therefore not subject to criminal liability, adds fodder to the...more

Fifth Circuit Decision in Citgo Case May Place Limits on Criminal Liability Under Migratory Bird Treaty Act

On September 4, 2015, the US Court of Appeals for the Fifth Circuit reversed convictions of CITGO Petroleum Corporation and CITGO Refining and Chemical Company, L.P. (collectively "Citgo"), and in so doing placed potentially...more

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