Gold Reserve supports Venezuela's CITGO appeal contingent on US backing

Venezuela: The Bolivarian Republic of Venezuela is pursuing legal strategies in U.S. courts to address creditor claims tied to assets like CITGO. In this development, it filed a motion for abeyance in the appeal of the proposed judicial sale of PDVH shares, citing a new governmental reality that enables direct repayment of Delaware creditors with U.S. support. Gold Reserve: Gold Reserve Ltd. is a Bermuda-based company focused on managing and monetizing legal and arbitral claims related to mineral properties. In the current news, it has filed a response in the CITGO appeal supporting Venezuela's request for a limited abeyance to facilitate creditor repayments, provided there is concurrent backing from the United States Administration. US Role: The U.S. Administration's recent actions have been credited with enhancing CITGO's value and enabling Venezuela's financing options for resolving claims. Legal Strategy: Venezuela's motion for abeyance in the CITGO appeal aims to allow time for implementing creditor repayments under recent governmental changes. Court Proceedings: The U.S. Court of Appeals for the Third Circuit has invited the United States to submit its views on the appeal by mid-October 2026.