Venezuelan creditors urge U.S. government to remove bond restrictions

Venezuelan bond creditors on Monday urged the U.S. government to remove newly imposed restrictions on the ability of holders of Venezuelan state oil firm PDVSA's 2020 bond to claim collateral after it entered default last month. The U.S. government on Oct 24 temporarily blocked a creditor seizure of PDVSA's U.S. subsidiary Citgo, whose shares were used as collateral for the bond issue. Venezuela opposition leader Juan Guaido took control of Citgo in February after Washington recognized him as the country's legitimate president. The following week, the bond went into default when a $913 million payment came due and Guaido's allies filed a U.S. lawsuit requesting that the bond be declared null.