LATE-STAGE SOCIALISM: Citgo considers bankruptcy amid Venezuela turmoil.

Bankruptcy is one option executives and advisers at the large U.S. refiner are weighing to protect its assets as control over funding stirs global tensions between Washington and Caracas, The Wall Street Journal reported on Thursday, citing people familiar with the matter. The U.S. is attempting to shift control of Venezuela’s energy assets from disputed President Nicolás Maduro to opposition leader Juan Guaidó, who has been sworn in – and recognized by the U.S. – as the once-wealthy nation’s leader.

Filing for bankruptcy would allow the company to stabilize operations and restructure its debt in a court-protected forum even though its financial pressures aren’t necessarily critical, the Journal reported.

Citgo did not immediately return FOX Business’ request for comment.

This story comes on the heels of other reports that the Maduro regime might be shipping large quantities of gold to Russia and the UAE.

Is the endgame in sight?