Caracas, Feb 28 (Prensa Latina) Venezuela´s Oil Minister Rafael Ramirez termed unjustified and unnecessary a $12 billion freeze granted to U.S. oil major Exxon Mobil over state-run oil firm PDVSA (Petroleos de Venezuela SA) assets.
Ramirez, also the PDVSA chairman, told journalists that legal teams are working on the presentation of the case before London courts. Exxon's harassment threatens legal security to carry out oil business, Ramirez added.
The measure is beyond arbitration, as PDVSA is a state-run business boasting jurisdictional immunity and cannot be seized, according to international practice, he said.
Ramirez recalled the freeze is "a measure usually taken against businesses which are bankrupt or leaving a certain sector," certainly not the case of the Venezuelan oil firm.
Therefore, we reserve the right to take any step "to assert our rights" and no court or harassment action will make us yield, he added.
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