ExxonMobil's stock price rose by 2%, and the company is seeking compensation for assets confiscated in Cuba over 60 years ago.

LootboxPhobia · 2026-02-24T12:38:56+00:00

ExxonMobil is seeking financial compensation for oil and natural gas assets confiscated by Cuba in 1960. The related lawsuit is filed under the Helm-Burton Act. This law allows U.S. companies to sue foreign entities benefiting from Cuban nationalized assets.

LootboxPhobia

2026-02-24 12:38:56

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Investing.com – The energy giant ExxonMobil is seeking compensation for oil and natural gas assets confiscated in Cuba in 1960. The related lawsuit involves Cuban entities.

The core of the case concerns assets confiscated over 60 years ago. ExxonMobil is now seeking economic damages from Cuban entities due to the confiscation of these assets.

These legal proceedings are the second court case involving a cruise line and its business dealings with Cuba.

The lawsuit was filed under the Helms-Burton Act, a U.S. law that allows American companies to sue foreign entities that benefited from property confiscated by the Cuban government after the 1959 revolution.

The Helms-Burton Act has garnered widespread attention because it enables U.S. companies to seek compensation through courts for assets nationalized by Cuba decades ago.

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