Venezuela To Exit World Bank Investment Dispute Tribunal - Oil Min

Πηγή: WSJ
Jan 15 2012

CARACAS (Dow Jones)--Venezuela plans to withdraw from the World Bank tribunal for investment disputes where it faces billions of dollars in claims including cases filed by U.S. oil majors Exxon Mobil Corp. (XOM) and ConocoPhillips (COP), Oil Minister Rafael Ramirez said Sunday.

After years of threatening to exit the International Centre for Settlement of Investment Disputes, or ICSID, the government of President Hugo Chavez has been hinting heavily in recent months that the move is imminent amid signs that the Exxon Mobil and ConocoPhillips cases are drawing closer to decisions. ...