U.S. denies Crystallex request for Citgo shares; will reassess in 2022 By Reuters

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© Reuters. FILE PHOTO: The logo of PDVSA’s U.S. unit Citgo Petroleum is seen at a gas station in Stowell, Texas, U.S., June 12, 2018. REUTERS/Jonathan Bachman/File Photo/File Photo

(Reuters) – The U.S. Treasury Department on Wednesday denied a request by Canadian gold miner Crystallex to receive shares in Venezuelan-owned U.S. refiner Citgo Petroleum Corp as partial payment for debt, according to a document seen by Reuters.

Treasury’s Office of Foreign Assets Control (OFAC) told Crystallex the State Department had determined such a sale would be inconsistent with U.S. foreign policy interests, but that Washington would reassess these considerations during the first half of 2022.

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