Crystallex International

Venezuela has considerable international assets to attach, including refineries and tankers loaded with crude oil landing in United States and other ports. Venezuela must export goods in order to support its economy. The country relies on oil for 93 percent of its export revenue. The government of Venezuela owns significant assets in the United States through Citgo, as well as significant resources that move through the U. S. financial system. These are assets that could conceivably be subject to an arbitration award. Additionally, large commercial transactions mostly go through New York or London banks. It would be very difficult to for Venezuela to move a significant stream of oil exports outside the U.S. stream of commerce. If a company prevails in arbitration, it will have access to Venezuelan assets moving through international commerce.

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