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

by Mike Robinson

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© Reuters. FILE PHOTO – The U.S. Citgo Petroleum logo is displayed at a Stowell gas station, Texas on 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.

According to Reuters, the Office of Foreign Assets Control of Treasury (OFAC), the State Department determined that such a sale would not be consistent with U.S. interests in foreign affairs. However, Washington will reevaluate these factors during the first half of 2022.

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