VENEZUELA has accused Washington of modern piracy after a judge ruled that the sale of US-based Citgo refineries could go ahead.

The company, a subsidiary of the Venezuelan state-owned PDVSA, has been embroiled in a decade-long dispute with former Canadian mining firm Crystallex, which is now set to collect a bumper $1.4 billion (£1.15bn). It is now controlled by New York hedge fund Tenor Capita.

On Friday US judge Leonard P Stark ruled that the sale of shares in the company could go ahead in order to satisfy Venezuelan debts.