Chavez defies World Bank in Exxon Mobile dispute

  •   The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Twitter Alex Jones' Facebook Infowars store

New York Times

January 10, 2012

CARACAS, Venezuela (Reuters) — President Hugo Chávez said on Sunday that Venezuela would not recognize a ruling by a World Bank panel in a multibillion-dollar arbitration case with the Exxon Mobil Corporation.

Exxon took Venezuela to the World Bank’s International Center for Settlement of Investment Disputes, seeking as much as $12 billion in compensation after Mr. Chávez ordered the nationalization of the Cerro Negro oil project in 2007.

“I tell you now, we will not recognize any decision” by the center, Mr. Chávez said during a televised speech. He has repeatedly accused the United States oil major of using unfair deals in the past to “rob” Venezuela, an OPEC member, of its resources.

“They are trying the impossible: to get us to pay them,” he said. “We are not going to pay them anything.”

Read full report here

This article was posted: Tuesday, January 10, 2012 at 3:02 pm Videos:

Comment on this article

Comments are closed.

Watch the News

The Mass Marketing Campaign For World War III See the rest on the Alex Jones YouTube channel.

Communist Manifesto: A Graduated Income Tax See the rest on the Alex Jones YouTube channel.

© 2013 is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.