Exxon Mobil Corp. v. Corporación Cimex, S. A. (Cuba) · ¶7

In 1960, a year after assuming power in Cuba, Fidel Castro declared that the new Communist government would seize all “Yankee property” in Cuba. Castro made good on that promise. The Cuban Government confiscated a variety of American businesses then operating in Cuba, including Exxon’s oil refinery and service stations. Cuba transferred Exxon’s property to Cuban government-owned companies.

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