Hugo steals another company without any due process.
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The United States said Tuesday it would expect Venezuela to properly compensate the local affiliate of the US-based glass maker Owens-Illinois after Caracas said it will expropriate the firm.
"Statements are one thing. We'll see what actual actions take place," State Department spokesman Philip Crowley told journalists in response to the announcement from Caracas.
"But we would expect Venezuela to provide prompt, adequate and effective compensation for any expropriation of the investments of Owens-Illinois in accordance with international law or any other private business ... present in Venezuela," he added.
Venezuelan President Hugo Chavez late Monday announced the expropriation of the local affiliate of the US-based firm, accusing it of causing environmental damage and exploiting its workers.
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More at:
http://news.yahoo.com/s/afp/20101026/pl_afp/venezuelauspoliticsbusinessdiplomacy_20101026183730