Trump Administration Delays Court-Ordered Sale of Citgo Petroleum

The Trump administration is delaying the court-ordered sale of Citgo Petroleum to Elliott Management and its affiliate, Amber Energy, despite a November 2025 ruling by a Delaware federal judge. The sale is intended to provide approximately $9 billion to Venezuelan creditors, but the U.S. Treasury Department has extended Citgo's protection from the sale six times since January.

While Energy Secretary Chris Wright initially supported the sale to increase U.S. refining capacity and lower gas prices, the administration is now using the asset as geopolitical leverage with Venezuela's interim president, Delcy Rodriguez. Venezuela and its state oil company, PDVSA, are appealing the sale order, arguing the auction process was biased.

Analysts suggest the delay may also serve as a domestic legal strategy for President Donald Trump to expand executive power under the unitary executive theory. By withholding the necessary license from the Office of Foreign Assets Control, the administration may be challenging the judicial branch's ability to enforce the sale order.