C'mon u guys! The contract was signed while Chavez was President. I do not beleve that his lackey ministers did this without running the contract by him first. You have probably read many times that Chavez is in control and makes all the decisions. I beleve this to be true. Once an agreement is made, you don't have to continously keep saying this is what I am going to do, it's already in writing. You only get into trouble when you say- "I'm breaking this agreement". His actions in nationalizing the mining sector and revoking our rights is essentialy just that. Chavez lied by allowing this agreement and not ever really inteneding to let KRY mine Las Cristinas.

IMO, I assume that many of the ISCID cases involving the breech of Venezuelan contracts all had a similar clause about dispute resolution and the wording goes something like- "Any disputes will be ajudicated by the Venezuelan court". This gave Chavez the misconception he could steal goods. services and infrastructure inmprovements then reneg and escape reprisal, since of course he controls the Venezuelan court.

Seeing the Venezuelan loss record in the ISCID and the amount of settlements and judgements so far, this was flawed thinking, but maybe also involved another calculated risk on his part.

Going even further into his motives, Chavez actively promoted disruption of the current economic system and hoped that the Dollar would collapse as the worlds reserve currency. If this happened all of his contractual problems would surely vanish. He would be a major player in a new commodity based monetary system, which sadly for him has not happened (yet) because he would look like a genius, and his premptive alignnment with China, Russia and Iran would make a lot of sense.

(Not to be political) The reason I say "yet" is because there are some congresspeople in the US who recently floated the idea of canceling all debt recently and starting over.

I do not think anyone could expect Venezuela to pay any jugdement if either of these monetary events ever occured.

Note: I have heard there is this thing called "Fair dealing" in basic law. Probably this is why we dont hear much details from either side.

If you say nothing is it lying? Ha ha.