Chávez Takes Steps to Exit Global Forum The Wall Street Journal By José De Córdoba President Hugo Chávez of Venezuela has taken steps to pull out of the global forum most used to settle investor disputes, where Caracas faces more than $40 billion in claims for nationalized properties. Documents show that Mr. Chávez, shown in August, is moving to avoid financial sanctions from abroad. Venezuelan officials have drawn up plans, at Mr. Chávez’s order, to…
The U.S. Treasury Department’s Office of Foreign Assets Controls (OFAC), today placed four high-ranking Venezuelan officials on the list of Specially Designated Nationals (SDN) under the Kingpin Act for providing assistance to the Colombian terrorist group known as FARC. The list was created to designate individuals who the United States has identified as participating in activities related to drug trafficking or terrorism. The four Venezuelan newcomers are: – Cliver Alcala Cordones, Major General of the…
An in-depth analysis by the Venezuelan Confederation of Industries (Conindustria) reveals that since 2002, the Chávez government has taken over 988 foreign and domestic companies. Other findings from the study include the following data: This year alone, 401 companies have been seized – that is 41% more than last year In 2010, 284 companies were expropriated by the Chavez government Between 2009 and 2010, there were 422 seizures, almost the same amount than in the…