Iran Condemns US Move to Auction Venezuela’s Citgo Refining Company

In a statement on Wednesday night, Foreign Ministry Spokesman Nasser Kanaani condemned the illegal move by the US to confiscate and sell shares of the Citgo refinery, which is part of the assets of the Bolivarian Republic of Venezuela, as a violation of international law.

He said the courageous and intelligent resistance and persistence of Venezuela against the cruel unilateral sanctions of the US, which foiled the political schemes of the White House in international circles against Venezuela, prompted Washington to exact revenge on Caracas and steal the property of the Latin American country that belongs to the Venezuelan people, the ministry’s website reported.

Kanaani also reaffirmed Iran's decisive support for the government and people of Venezuela in the defense of their legitimate and legal rights.

On Monday, a US judge kicked off an auction that will place Venezuela’s oil refiner Citgo Petroleum, based in Houston, in the hands of rivals or investors.

The auction could start a new chapter for the 113-year-old company, which has been owned by Venezuela for almost 40 years.

Citgo likely will end up next year in the hands of one or more of the largest refiners operating in the US, potentially leaving Venezuela with nothing, Reuters quoted people closely involved in the case as saying.

"We reject the robbery of Citgo... Venezuela will not recognize any fraudulent transaction," Venezuela's Vice President Delcy Rodriguez said on X on Monday.

On Friday, Venezuelan Oil Minister Pedro Tellechea called on the US court to halt the auction.