Citgo formally cuts ties with Venezuela-based parent company: sources

Executives at the Houston-based firm set a Feb. 26 deadline to end relationships with PDVSA following sanctions designed to curb oil revenues to socialist President Nicolas Maduro and support the nation's transition government formed by Venezuelan congress head Juan Guaido. The United States, Canada and dozens of other nations have recognized Guaido as Venezuela's legitimate president, but Maduro still controls the military, public institutions and PDVSA, which provides 90 percent of the country's export revenue.