Penélope Cruz, Hailee Steinfeld and Barbara Palvin smoulder at the Official Competition premiere

She stars alongside Antonio Banderas in Gastón Duprat & Mariano Cohn Spanish comedy Official Competition.

And Penélope Cruz oozed Hollywood glamour as she stepped out at the premiere of her latest project at the Venice Film Festival on Saturday.

The star, 47, was joined for the event by Hailee Steinfeld who wowed in a plunging black sequin dress and Barbara Palvin who smouldersed in a strapless navy ensemble.

Penélope looked timelessly elegant as she took to the red carpet in the pristine tiered thigh-split dress and a liberal dusting of diamond jewellery.

She pulled out all the style stops as she confidently worked her angles for the cameras in the chic white dress and open-toed black stilettos.

The star revelled in her moment in the spotlight and looked stunning with her chestnut locks swept up into a large swirl bun at the back of her head.

She toted a minimalist matching clutch bag and accessorised with glamorous diamond and pearl drop earrings and matching rings.

Penélope’s makeup look consisted of defined brows, a subtle smokey eye and a matte nude lipstick as she flawlessly posed with one hand on her hip before heading in to the premiere screening.

Meanwhile, Hailee turned heads as she stepped out in a daring low cut black sequin dress with racy sheer panelling and a thigh-split detail up the side.

The Pitch Perfect star, 24, strutted with confidence along the red carpet and threw her chestnut curls behind her as she shot a smouldering look at photographers.

She elongated her endless pins with a pair of strappy black stilettos and accentuated her features with a purple smokey eyeshadow look.

 Otherwise, the star let her eye-catching ensemble speak for itself as she kept accessories to a minimnunm.

Barbara put on a very fashionable display in a navy maxi dress that featured red detailing at the waist and a striking curved shape design.

The hungarian model, 27, locked cameras with a sultry stare as she emphasised her piercing blue eyes with a smokey winged eyeliner look.

She completed her ensemble with a pair of black bedazzled stilettos and wore her brunette locks in sleek tumbling waves that were loose around her shoulders.

Also taking to the red carpet was Penelope’s co-star and long-term collaborator Antonio Banderas, 61.

Antonio was joined by his investment banker girlfriend Nicole Kimpel but also found time to pose up a storm with Penelope as the pair coyly looked over their shoulders together.

The Mask Of Zorro star cut a dapper figure in a satin-lapelled black suit with a matching tie and shining lace-up shoes.

Meanwhile, Nicole stunned in a deep-V thigh-split gown with diagonal beading decorating the stunning dress.

Also stepping out for the glitzy event was the About A Boy star Nicholas Hoult.

Nick looked suave in a black tuxedo which he wore with a tieless no collar shirt and patent lace-up shoes.

The Skins star worked his angles for the cameras as he shot a grin at onlookers with his eyebrows shaved at the edges.

And Sarah Gadon looked phenomenal in a glittering off-white strapless gown.

The Are You Afraid Of The Dark star was glowed as she made her way across the read carpet in the maxi dress with elegance and poise.

She beamed in a bold red lip and swept her golden tresses up in a glamorous up do for the star studded screening in Italy.

Penelope and Antonion Banderas are set to appear in the upcoming Spanish comedy film Official Competition, directed by Gastón Duprat & Mariano Cohn. 

The film follows eccentric director Lola Cuevas (Penélope Cruz), who has been hired by a billionaire to create a movie of his ‘legacy’.

Alongside Lola’s trusted sidekick, Iván Torres (played by Argentine actor Oscar Martínez), they decide on offering the role of the billionaire to the hunky Félix Rivero (Antonio Banderas) to play in their movie.

The group hilariously clash at times, burdened by the task of bringing the frantic filmmaker’s dreams into a reality.  

It is set to have its world premiere at the Venice Film Festival on 4 September 2021.