Economics
Citgo Arrests Tighten Maduro's Grip on Venezuela's Oil Economy
- Government detained six Citgo executives including president
- Prosecutor says he’s rooting out pervasive corruption
Venezuela Inches Closer to Dictatorship
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After quashing street protests and corralling his political opponents, President Nicolas Maduro has set his sights on Venezuela’s economic engine.
The authoritarian socialist’s administration has begun a broad purge at state-owned Petroleos de Venezuela, arresting more than 50 officials at the oil giant and its joint ventures since August, supposedly to fight corruption. On Tuesday, Public Prosecutor Tarek William Saab netted his biggest fish, the acting president of Citgo, PDVSA’s U.S. refining arm, and promised to put even more executives behind bars in his “all-out fight to clean up the oil industry.”