Venezuela’s PDVSA said on Friday that Canadian miner Crystallex had no justification for a complaint in a U.S. court seeking to recover $2.8 billion from the state oil company. ¬†Crystallex filed the complaint Monday in Delaware, saying PDVSA and its U.S.-based refining unit Citgo Holding designed a refinancing deal to lower Citgo’s value and dissuade asset seizures stemming from arbitration awards. ¬†Crystallex is engaged in a $3.1 billion arbitration claim against Venezuela before an international tribunal over the termination of its Las Cristinas gold asset in Venezuela. ¬†“Once the official notification of this claim is received, if it even exists, PDVSA will respond appropriately, given there is no basis or foundation whatsoever for a claim by Crystallex against the national oil company,” PDVSA president and Oil Minister Eulogio Del Pino said.

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