The U.S. Supreme Court will hear two major property rights cases tied to Fidel Castro’s 1959 communist revolution in Cuba. ExxonMobil is appealing to recover assets seized by the Cuban government, including an oil refinery, service stations, and other property valued at $72 million in 1969.
With interest and treble damages, Exxon’s claims could reach billions of dollars. Nearly 6,000 other American entities and individuals hold similar certified claims totaling $1.9 billion.
The US Supreme Court will consider making it easier to sue over Cuban property confiscated by Fidel Castro’s government in 1960, accepting two appeals with potentially billions of dollars in stakes for US companies https://t.co/A9EsZ7yLTc
— Bloomberg (@business) October 3, 2025
A second case involves Havana Docks Corporation, which built piers in Havana in 1905 under a 99-year agreement. The company argues that cruise lines illegally used its confiscated property between 2015 and 2019, disembarking nearly one million passengers and paying Cuba’s communist regime over $130 million.
The disputes stem from a 1996 law allowing U.S. nationals to sue over seized Cuban assets, a provision President Donald Trump activated in 2019 after decades of suspension.
The US embargo cost #Cuba $7.5B last year, bringing total damages to $170B, says Cuban gov. Brazilian President Lula told the UN it's "unacceptable" that Cuba remains listed as a terrorism sponsor. https://t.co/p6I9YsVlY9
— CEPR (@ceprdc) October 3, 2025
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TIPP Staff
TIPP Staff
