Penelope Cruz awards actress Oscar Penelope Penelope Cruz

Penelope Cruz Wore a Timeless Halter Gown on the Oscars Red Carpet

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Parallel Mothers, marks a success in the longtime collaboration between Cruz and Almodóvar. Her first Oscar best actress nomination was for Almodóvar's 2006 film, Volver.

She went on to win in 2008, saying in her acceptance speech: “I grew up in a place called Alcobendas, where this was not a very realistic dream.

And I, always the night of the Academy Awards I stay up to watch the show. And I always felt that  this ceremony was a moment of unity for the world, because art, in any form, is and has been and will always be our universal language and we should do everything we can to protect its survival.”This year, Cruz is a strong contender (and fan favorite!) for the prize, despite not being nominated at other awards.

If she doesn't win best actress, at least she was one of the best dressed. Below, see photos of Penelope Cruz's stunning Chanel look.

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