Looking inside ourselves and out at the world
Independent and neutral with regard to all political and religious orientations,® aims to promote awareness of the major democratic principles on which tolerance is based.

ICSID: Venezuela Must Pay Exxon $1.6B for Nationalizations

A World Bank arbitration tribunal has determined Venezuela must pay ExxonMobil Corp. around $1.6 billion to compensate for a 2007 nationalization, the award posted on the ICSID website on Thursday showed. The award is far below the amount of up to $10 billion Exxon had originally sought and also the $6 billion at which the International Center for Settlement of Investment Disputes (ICSID) capped the case, excluding a tax claim. A separate decision by the Paris-based ICC in 2012 ordered...

Read complete article
© Voice of America -

Follow us on ...
Facebook Twitter