Venezuela announced today go undergo evaluation international investment treaties to submit the country to international bodies and signed by previous governments, to safeguard mechanisms that threaten its energy resources.
This was announced by Venezuelan Foreign Minister, Rafael Ramirez, at a press conference in Caracas, during which he spoke about the ongoing litigation at the International Centre for Settlement of Investment Disputes (ICSID), following nationalization in 2007, the oil activity in the country.
“No other contract in the context of our oil policy, contemplate this kind of mechanisms (international fora). never make us impositions on management issues so vital to the Republic, as oil. Venezuela is a sovereign, independent and one of the world’s major oil field in the country, “he said.
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