Extension of Citgo protection would benefit creditors-Venezuela candidate Machado

Asked if she hoped the U.S. would extend the protection, Machado said yes. "That is what we hope and I think it would be what benefits all parties, not just Venezuela, it would benefit creditors and benefit also the government of the United States," Machado said.

An extension in the U.S. Treasury Department's protection of Houston-based refiner Citgo Petroleum would benefit creditors and the U.S. government, Venezuelan opposition presidential candidate Maria Corina Machado said on Friday during an interview. Protection of the company is set to expire in April.

A U.S. court in January approved claims by 17 Venezuela-linked creditors, including ConocoPhillips, Rusoro Mining and Koch Industries, to get proceeds from a coming auction of shares in the parent of Citgo, to satisfy claims for expropriations and debt defaults. Asked if she hoped the U.S. would extend the protection, Machado said yes.

"That is what we hope and I think it would be what benefits all parties, not just Venezuela, it would benefit creditors and benefit also the government of the United States," Machado said. Washington and Venezuela's political opposition have long wanted Citgo to anchor the country's

economic future under a democratically elected government, but so far President Nicolas Maduro has remained in power despite a disputed 2018 re-election the U.S. and others say was fraudulent.