LONDON, September 23, 2021--Citi, acting through Citibank N.A., has been appointed by Banco Santander S.A. ("Banco Santander") to act as successor depositary bank for its NYSE listed American Depositary Receipt ("ADR") programme.
Citigroup Inc blocked an attempt by Venezuelan state oil company PDVSA to make debt payments to a Siemens unit, a Citi executive testified on Wednesday in a U.S. trial over whether PDVSA is liable for the payments. In a bench trial that began on Tuesday in Manhattan federal court, PDVSA is contending that U.S. sanctions implemented in August 2017 rendered payment impossible. The dispute stems from a January 2017 promissory note that cash-strapped PDVSA issued to oilfield equipment provider Dresser-Rand for $120 million, plus interest.
Citigroup (C) closed at $68.24 in the latest trading session, marking a +1.94% move from the prior day.