Crystallex, Special Prosecutor's Office and PDVSA's ad hoc board will measure influence before OFAC over Citgo's control

Chief Judge Leonard Stark of the District Court in Delaware made the decision to advance the claim of the Crystallex company to take possession of the subsidiary PDV Holding and thus of Citgo in order to collect $ 1.4 billion owed the Venezuelan State for a ruling that favored it in an arbitration process. However, this mining company and the authorities designated by the National Assembly must measure their influence power before the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury.
An Associated Press news agency review outlined Judge Stark's decision with the caption "Judge lifts sale of Venezuela's refineries in the United States." Of course, that note had international repercussion to the point that it forced the Special Prosecutor's Office through its account on the social network Twitter to issue a response message: “it is false that the Delaware Court has ordered the sale of shares of PDV Holding , Inc. He only ordered to resume the trial trying for Crystallex. " https://twitter.com/DeProcuraduria/status/1264010511609475072?s=20

In a second message - or trill - however, that firm acknowledges that Stark's decision would imply a restriction on the control that the ad hoc management board of Petróleos de Venezuela has through PDV Holding. “The Delaware Court demanded the embargo of PDV Holding, Inc. shares, due to the expropriation agreed by the Chávez regime. The Office of the Special Prosecutor will continue to exercise all necessary defenses, "the message points out. https://twitter.com/DeProcuraduria/status/1264004948163006471?s=20

The Office of the Attorney General argues the criterion that has prevailed since December 2019 with an OFAC decision that prohibits the sale of assets of PDV Holding and Citgo, that is to say, to sell or transfer ownership of shares, in this case of the refining company and thus avoid that Venezuela lose this asset and that Crystallex collect what the Venezuelan State owes it. Incidentally, this decision by this Treasury Department office would also apply to holders of the PDVSA 2020 bond.

"It should be remembered that according to the interpretation of December 9, 2019 dictated by OFAC, no creditor can execute embargo measures against Citgo", indicates the Office of the Attorney General in a message on Twitter that was later replicated by the leader Carlos Vecchio , in his capacity as Venezuela's ambassador to the United States, appointed by the National Assembly and recognized by the Donald Trump government.
The diplomatic representative has issued successive messages related to his management in this case and the action that he will continue to exercise.
"We have already notified the United States Administration of the possible resumption of the trial, and we have requested their participation in order to ratify the protection measure established in the Executive Order and the OFAC guidelines," Ambassador Vecchio reported. From the Interim Government we have done everything possible to protect CITGO. It is protected thanks to a measure by the United States Government. No one can seize it without your authorization. And we will continue to exercise the pertinent legal actions, ”he said.
https://twitter.com/carlosvecchio/status/1264203351853617161?s=20

These positions were brought together in a statement issued by the National Communication Center, which serves as the dissemination body for executive representation in charge of the President of the National Assembly, Juan Guaidó, although this text incorporates an additional message that attempts to indicate that the decision of the Judge Stark would be within the provisions of the legal strategy.
“This process approved by a Delaware court is the legal consequence that we had already foreseen and that was the corresponding step after the decision of the United States Supreme Court of Justice; even the trial is ongoing and awaiting the next events, "says the disclosure center on behalf of the administration of Juan Guaidó.
On the Crystallex side, the action aims to point out to OFAC representatives that a decision of the United States Judiciary, which has also passed through the Supreme Court of that country, cannot be contravened by an administrative order adopted by a dependency of the Treasury Department. Lobbying
actions to influence OFAC are already underway. On the one hand, the Crystallex lawyers and, on the other, the representatives of the ad hoc board of directors of PDVSA and the Special Prosecutor's Office.