Washington, Sketsa.id – Behind the U.S. military operation that ousted Venezuelan President Nicolás Maduro, a massive financial stake worth billions of dollars has come into focus. Paul Singer, a major donor to the pro-Israel lobby AIPAC and the Republican Party, is widely seen as a primary beneficiary of the regime change in Caracas last weekend.
Through his investment firm, Elliot Investment Management, Singer has placed a $6 billion bid for the U.S.-based refineries of Citgo—the subsidiary of Venezuela’s state-owned oil company PDVSA. Located in Texas, Louisiana, and Illinois, the refineries are estimated by some analysts to be worth up to $12 billion.
“According to Grok, Paul Singer… stands to make billions off his troubled CITGO investment, now that this administration has taken over Venezuela,” wrote Republican Congressman Thomas Massie on his X account on Sunday.
Massie, a vocal critic of U.S. support for Israel and foreign intervention, is currently the target of a funding campaign by Singer aimed at unseating him in the next election.
White House Access and a Debt Scheme
Elliot Management is no stranger to profiting from emerging market debt. The firm reaped billions following Argentina’s debt crisis. What sets this situation apart is Singer’s direct access and considerable influence within President Donald Trump’s administration.
In November, a U.S. federal judge approved Elliot’s bid for Citgo. However, the transaction remains pending, stalled by objections from the U.S.-appointed board overseeing Venezuelan assets abroad and awaiting final approval from the U.S. Treasury Department.
Targeting Strategic Refineries
The Citgo refineries in the U.S. are PDVSA’s most valuable foreign assets. If President Trump follows through on his promise to “revive” Venezuela’s oil industry, the country’s heavy crude would once again flow in large volumes to these refineries, significantly boosting their value.
With a new, U.S.-aligned government in Caracas, the legal and political hurdles to acquiring Citgo are expected to dissolve. This would be a perfect resolution for Elliot, which purchased Venezuelan debt at a deep discount.
Civilian Casualties and Accusations
As the business interests advance, the human cost of the U.S. military operation is mounting. A recent Associated Press report states that over 80 people have been killed, including civilians and security personnel, due to U.S. airstrikes and special operations.
Venezuela’s interim president, Delcy Rodríguez, has stated that the operation to capture Maduro carried a “Zionist nuance,” implying a connection between Israeli interests and their supporters in the U.S. regarding the upheaval.
If the Citgo acquisition ultimately proceeds, it will stand as a stark example of how geopolitical turmoil and military intervention can be leveraged into staggering financial windfalls for a select few, while the Venezuelan people bear the consequences. (cc)
