PDVSA categorically rejects Crystallex embargo attempt against Venezuela

Caracas.- Petroleos de Venezuela, S.A. (PDVSA) informs the public its total rejection in the face of the claims of the Canadian Enterprise Crystallex that attempt to affect the interests of Venezuela in oil matters.

As previously reported, this Tuesday, August 17th, Crystallex asked the Federal Court of Delaware State for permission to freeze and confiscate the shares of PDVSA held in PDV Holding, a parent company of Citgo in the USA, in an attempt to execute an arbitral award against the Bolivarian Republic of Venezuela.

It is worth noting that PDVSA never has been involved in this arbitration process and therefore there has been no judgement against PDVSA on this specific issue.

Thus, this attempt to execute an arbitral award against Venezuela, trying to freeze or to seize assets of PDVSA, is completely inadmissible. Consequently, PDVSA will take all necessary legal actions in order to protect its assets against this kind of attacks.

Once again, PDVSA reaffirms its commitment to the People of Venezuela, its sole significant shareholder, in the task of fighting transnational corporations that clearly only serve to dubious interests as well as attempt to damage the prestige and credibility of PDVSA.