The move by the Guaido government is not only good news for bondholders but also might be a way to woo disenchanted creditors who were not supporting the opposition and might have been thinking about taking the default to court, said Russ Dallen, managing partner with Caracas Capital.

“If there is a second Trump administration, they will likely keep delaying that permission because the Trump team believes that Citgo is important for the opposition and for the rebuilding of Venezuela,” said Dallen.