Supreme Court to Rule on Exxon's $1 Billion Cuba Assets Claim ...Middle East

The U.S. Supreme Court will be hearing on Monday arguments by ExxonMobil, backed by the Trump Administration, about the scope of a law allowing American companies to claim damages for seized assets in Cuba. U.S. supermajor Exxon is seeking compensation upwards of $1 billion for assets seized by the Cuban government in 1960. At the time of the confiscation of the assets, then belonging to subsidiaries owned by Standard Oil, they were worth $70 million.  However, Exxon wants $1 billion in the current claim because interest has accrued and there…

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