• Redditsux@lemmy.worldOP
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    1 day ago

    Here’s the play: Trump forced embargos on Venezuela oil that made Venezuela-owned CITGO refineries designed to refine Venezuelan oil unprofitable. US Courts forced sale of CITGO assets, Singer swooped in and bought them for $5.9billion, a third of its $18billion value (oil refineries are very expensive to build). 2 months later, Trump attacks Venezuela, removes Maduro and Venezuelan oil is legal again. Presto! Instant profit in billions!!!

    • TribblesBestFriend@startrek.website
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      1 day ago

      You forgot when the court appointed man to oversee the sale was a high man in one of the « Israel charity » that Paul Singer give to

      But yeah that’s pretty it

  • UnderpantsWeevil@lemmy.world
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    1 day ago

    In November 2025, less than two months before Trump’s operation to take over Venezuela, Singer’s investment firm, Elliott Investment Management, inked a highly fortuitous deal.

    It purchased Citgo, the US-based subsidiary of Venezuela’s state-owned oil company, for $5.9 billion—a sale that was forced by a Delaware court after Venezuela defaulted on its bond payments.

    The court-appointed special master who forced the sale, Robert Pincus, is a member of the board of directors for the American Israel Public Affairs Committee (AIPAC).

    Elliott Management hailed the court order requiring the sale in a press release, saying it was “backed by a group of strategic US energy investors.”

    Singer acquired the Citgo’s three massive coastal refineries, 43 oil terminals, and more than 4,000 gas stations at a “major discount” because of its distressed status. Advisers to the court overseeing the sale estimated its value at $11-13 billion, while the Venezuelan government estimated it at $18 billion.

    Trying to imagine the outcry if this had been done by a Russian firm on Ukrainian assets or a Chinese court on Taiwanese property.

    Is any major US news agency covering this as a story, I wonder?

    • demonsword@lemmy.world
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      5 hours ago

      Trying to imagine the outcry if this had been done by a Russian firm on Ukrainian assets or a Chinese court on Taiwanese property.

      That would be casus belli for the entire West to rise up, I guess