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MUFG Union Bank, N.A.

MUFG Union Bank, N.A.

Financial Institution

Appears in 1 story

Stories

The sanctions switch flips: PDVSA 2020 bond trades reopen, and CITGO’s collateral lock starts to loosen

Rule Changes

Trustee tied to PDVSA 2020 bondholder representation in litigation.

CITGO has been the prize everyone can see, but almost nobody can touch. For years, a single U.S. sanctions lever has decided whether the PDVSA 2020 bond’s “CITGO shares” collateral is a real hammer—or just a threat on paper.

Updated Dec 20, 2025