How Trump could wrest Citgo from Elliott Management and hand it back to Venezuela | Fortune

Citgo’s court-ordered sale to Elliott Management and affiliate Amber Energy is being delayed, leaving uncertainty over whether the Trump administration will allow the transaction. A Delaware federal judge in November 2025 ordered the sale after ruling Citgo could be liable for Venezuela’s debts, approving a process intended to generate $9 billion for a limited group of creditors. After the ouster of Venezuela’s former leader Nicolás Maduro in early January, the approval seemed close, and U.S. Energy Secretary Chris Wright praised the deal. But since January, the Treasury has extended Citgo’s protection from sale six times, raising questions about whether geopolitics could undo the ruling, while Venezuela and PDVSA appeal.