situation report
May 6, 2019 | 21:15 GMT
1 min read
What Happened: ExxonMobil has sued Cuban state energy company Union Cuba-Petroleo (Cupet) and Cuban state import-export corporation Cimex for their use of property seized from the U.S. oil giant's predecessor Standard Oil, The Wall Street Journal reported May 3.
Why It Matters: The lawsuit risks complicating Cupet and Cimex’s business activities with other foreign companies, such as those from Europe or Canada, for fear that they too could be sued. A long-running court battle also risks hindering U.S. companies' ability to do business with both Cuban companies, should a change of government in Havana open up relations with Washington down the line.
Background: In January, the White House announced it would lift a long-standing prohibition on suing foreign companies for ownership of property seized from U.S. companies after the 1959 Cuban revolution.
Read More:
Connected Content
Regions & Countries
Copyright © Stratfor Enterprises, LLC. All rights reserved.
https://worldview.stratfor.com/situation-report/us-cuba-exxon-mobil-sues-two-cuban-companies
2019-05-06 21:15:00Z
CBMiXGh0dHBzOi8vd29ybGR2aWV3LnN0cmF0Zm9yLmNvbS9zaXR1YXRpb24tcmVwb3J0L3VzLWN1YmEtZXh4b24tbW9iaWwtc3Vlcy10d28tY3ViYW4tY29tcGFuaWVz0gEA
Bagikan Berita Ini
0 Response to "US, Cuba: Exxon Mobil Sues Two Cuban Companies - STRATFOR"
Post a Comment