The Supreme Court has ruled that Exxon Mobil can sue state-owned oil companies in Cuba over the confiscation of property that occurred after Fidel Castro’s regime seized power nearly seven decades ago.
Background
By the late 1950s, Standard Oil Company – later renamed Exxon Mobil Corporation – had extensive operations in Cuba, including a refinery, multiple product terminals, and 117 service stations, all of which were seized by the Castro government and folded into state-owned enterprises.
An American commission in 1969 certified Standard Oil’s loss at nearly $72 million. With interest and Exxon’s request for triple damages, hundreds of millions of dollars may be at stake.
Decision
Justice Brett Kavanaugh wrote the opinion for a 6-3 majority with the liberal justices in dissent. The decision is the latest development in an unusual confluence of legal and geopolitical moves Washington has taken to increase pressure on Cuba.
The Trump administration backed Exxon in the litigation, stating that the United States has compelling foreign-policy interests in ensuring that US nationals whose assets were illegally expropriated by Fidel Castro’s communist regime receive recompense and in preventing the Cuban government from further benefiting from its wrongdoing.
Original reporting: KRDO (Colorado Springs metro) — read the source article.