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US expects Venezuela to respect international laws in dispute with Exxon

The United States expects the Venezuelan government to abide by the international law in connection with a legal dispute between US oil major Exxon Mobil Corp and Venezuelan state-run oil giant Pdvsa, the US State Department said on Monday.

US State Department spokesperson Sean McCormack's comments came following Venezuelan President Hugo Chávez's threat to halt oil sales to the United States after a Exxon Mobil won court orders to freeze USD 12 billion in Pdvsa's assets and accounts, Reuters reported.

Exxon resorted to international courts after the Venezuelan government nationalized in 2007 a heavy-crude oil project the US firm operated in the Orinoco oil belt.

"This has an economic nature. There is a legal process under way between Exxon and the government of Venezuela. This has to continue and has to be solved under the internationally existing and accepted laws and standards. We would expect that the Venezuelan government respects those laws and standards (in its legal battle) with Exxon," McCormack told reporters.

Regarding Chávez's threat, the official replied, "This is something he has said before."

Chávez has threatened several times to stop oil shipments to the United States -the world's largest energy consumer. But so far, he has kept oil sales unchanged, despite repeated clashes with Washington.


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