US Supreme Court Reviews ExxonMobil's Claims Over $700M Cuban Asset Seizures

The U.S. Supreme Court has agreed to hear ExxonMobil's case seeking compensation from Cuban state-owned companies for oil and gas assets confiscated during Cuba's 1960 nationalization under Fidel Castro, with losses valued at over $700 million today. The case, supported by the Helms-Burton Act of 1996, allows U.S. nationals to sue entities profiting from confiscated Cuban property, a provision suspended by multiple presidents until 2019 when then-President Donald Trump lifted the suspension, enabling a surge in lawsuits. ExxonMobil alleges that companies like Corporación Cimex and Unión Cuba-Petróleo continue to benefit from these assets without paying compensation. The Supreme Court will also review a related case involving Havana Docks Corporation's efforts to enforce judgments against cruise lines accused of using nationalized port facilities without proper compensation. These cases could significantly impact how claims under the Helms-Burton Act are enforced decades after the original confiscations. The Court's decision comes after lower courts issued conflicting rulings on the application of the law and procedural thresholds for such lawsuits.