Venezuela's Guaido orders new boards for PDVSA, Citgo

Guaido's team of advisers was rushing to take control of the country's main foreign asset, U.S. refiner Citgo Petroleum, before a potential bond default that could leave half the company in creditors' hands, sources close to the talks told Reuters on Monday. Guaido, who proclaimed himself president last week and has not yet appointed a cabinet, faces the intricate legal challenge of nominating new leadership for PDVSA, the state-owned oil and natural gas company, and its subsidiaries, including Citgo, who would manage the companies during a transition. It comes as the United States announced new sanctions on PDVSA that involve limiting PDVSA's transactions with people in the United States, although U.S. refineries can still import Venezuelan oil, Treasury Secretary Steve Mnuchin said on Monday.