In its rush to switch cash into bank accounts beyond ExxonMobil's reach, Venezuela seems to have shown it was caught off guard by the US supermajor's court move.

ExxonMobil knew where to hit PDVSA hard, and hit it hard it did.

The "fair market value" of the frozen PDVSA assets are likely to be worth far more than any compensation ExxonMobil could win from eventual arbitration proceedings.

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