MUFG Union Bank, N.A.

Rule Changes

As of May 2026: 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 May 15