RE: Solg12 Apr 2024 07:09
DD is the issue here, add. The UN confirming that this is a violation of the Geneva convention simply cannot be a good thing for the president's chances of attracting investment. There is violence and corruption in lots of the countries where majors invest, but blatant disregard for 'inviolable' international law is a troubling precedent. Majors sign IPAs which are underpinned and upheld by an adherence to international law. They can cope with the occasional coup or assassination, bribery or extortion, because the ruling parties in other jurisdictions are smart enough to adhere to the relevant bits of these legal agreements. Ecuador has just clearly demonstrated that it won't.
Will this harm investment in the country? Only time will tell. It doesn't matter to us anyway, as the rampers' "imminent sale" isn't happening this year (yes, slug is wrong about that, too. Can't blame Apple's autocorrect for all his stupidity)