According to an official statement released by Venezuela’s Foreign Ministry on Wednesday this week, the move has been taken on the grounds of defending national sovereignty and “to protect the right of the Venezuelan people to decide the strategic orientation of the social and economic life of the nation”.
On 8 January, Venezuelan President Hugo Chavez first announced the intention to leave the ICSID and his government’s refusal to accept the body’s decisions. The comments followed US oil giant Exxon Mobil’s move to bring a case to the body seeking more compensation from Venezuela’s nationalisation of its operations in the Orinoco Oil Belt in 2007.
International Glance
The U.S. government has informed Israel that it will recommend that Congress approve a three-year extension of loan guarantees to Israel, worth $3.8 billion.
Iraq “cracked down harshly” on freedom of expression and assembly in 2011 by intimidating, beating and detaining activists and journalists, Human Rights Watch said Sunday in announcing its World Report 2012.
Bulgaria's Cabinet decided on January 17 to amend the licence awarded to US oil firm Chevron, explicitly banning the use of hydraulic fracturing (fracking) technology in the exploration of potential shale gas reserves in the country's northeast.
Western intelligence sources told Time magazine on Friday that Israel's Mossad is responsible for the latest assassination of an Iranian nuclear scientist.






























