From DemocracyNow.org
Venezuela is in a new spat with the U.S. government following a court victory freezing the Venezuelan state oil company’s foreign assets and bank accounts. The oil giant Exxon Mobil won the order as part of an attempt to recoup an investment in a Venezuelan oil project nationalized last year. More than $12 billion in Venezuelan assets were frozen even though Exxon’s investment was valued at between $2 to $4 billion. Venezuelan President Hugo Chavez has threatened to cut off U.S. oil exports unless the freeze is lifted.
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