Sunday, February 10, 2008
Chavez Vows Venezuela Revolution Despite Exxon
President Hugo Chavez vowed Saturday to keep to his self-styled socialist revolution despite Exxon Mobil winning court orders freezing up to $12 billion of Venezuela's assets in a nationalization dispute. The giant American company has retaliated for Chavez's seizure last year of an Exxon project, winning the first big court battle over compensation for a takeover that the anti-U.S. president says will help create a socialist state. Exxon's move sparked a sell-off in the OPEC nation's debt bonds this week and prompted government officials to tell Venezuelans to remain calm.
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