In Britain, the Venezuelan government has scored a victory in its legal dispute with the oil giant ExxonMobil. On Tuesday, a British court overturned a ruling freezing $12 billion in Venezuelan assets. Exxon had won the freeze as part of an attempt to recoup an investment in a nationalized Venezuelan oil project. But Venezuela says Exxon is trying to recover more than ten times what its investment was actually worth. In Caracas, Venezuela oil minister Rafael Ramirez hailed the ruling as a vindication.

Venezuela oil minister Rafael Ramirez: “Exxon intended to manipulate and lie to that court, and the court has responded in a very serious manner and has put Exxon in its place. It is a lesson for transnational businesses — Exxon Mobil, in particular — who tried to be above the law.”

Venezuela and Exxon remain in arbitration over the dispute.