The director of the Office of Foreign Assets Control (OFAC), Andrea Gacki, presented a letter to the Delaware Court, where she expressed the opposition of the U.S. Treasury Department to the sale of the shares of the oil subsidiary PDV Holding.
In this sense, OFAC explained in the document that “it is not yet in a position to issue a decision on Crystallex’s license application and that taking action on an auction now will not help the approval of such application”.
Likewise, they stressed that “the political and economic crisis in Venezuela and the administration of the president in charge, Juan Guaidó, are factors that are being considered when reviewing Crystallex’s application”.
Furthermore, they explained that “in its review of Crystallex’s application it will include consideration of the fact that a sale of PDV Holding shares would undermine current U.S. foreign policy on Venezuela”.
“U.S. foreign policy interests may be decisive in adjudicating Crystallex’s application,” they stressed in the brief to the Delaware Court.