PDVSA

The ruling appears to clear the way for creditors of the South American country to acquire its assets.

The Venezuelan government is asking the U.S. Supreme Court to revisit a lower court ruling allowing creditors to go after the assets of the parent of its government-owned oil company that does business in the United States as CITGO Petroleum.

Venezuela’s ambassador to the United Nations dismissed the possibility of cooperating with U.S. investigations into a billion-dollar bribery schemes that allegedly occurred at the country’s state-run oil company while he was in charge.

The effects of 21st century socialism in Venezuela are horrifying.