The U.S. Supreme Court heard arguments on Monday, February 23 2026, in Exxon Mobil v. Corporación Cimex, a case in which the oil major seeks more than $1 billion in compensation for oil‑and‑gas assets seized by the Cuban government in 1960. The claim is grounded in the Helms‑Burton Act, which allows U.S. nationals to sue anyone who “traffics in property confiscated by the Cuban government.” Exxon Mobil argues that the Act overrides the Foreign Sovereign Immunities Act (FSIA) and permits the company to sue Cuban state‑owned entities for the seized refinery, terminals and service stations.
Exxon Mobil’s lawsuit is the largest of a wave of claims that began after President Donald Trump lifted the 2019 suspension of Title III of the Helms‑Burton Act. The company’s claim is based on a $70 million loss at the time of seizure, but the present value of the claim has grown to over $1 billion because of accrued interest and the possibility of enhanced damages. The Cuban defendants contend that they remain immune under the FSIA and that the Helms‑Burton Act does not create a clear waiver of sovereign immunity.
A favorable ruling would allow Exxon Mobil to recover a substantial portion of its lost assets and could open the door for other U.S. firms with Cuban holdings to pursue similar claims. Conversely, an unfavorable decision would reinforce the FSIA’s immunity shield and limit the ability of U.S. companies to seek redress for expropriated property abroad. The outcome will therefore shape the legal landscape for foreign‑government property disputes and could influence how U.S. firms structure future international operations.
The case is closely watched by the energy sector and by legal scholars because it sits at the intersection of U.S. foreign‑policy law and sovereign immunity doctrine. A precedent‑setting decision could affect not only Exxon Mobil but also other U.S. oil majors that have faced property seizures in Cuba and similar situations in other jurisdictions.
The Supreme Court’s decision is expected to be issued in the coming months, and its implications will be closely monitored by investors, legal practitioners, and policymakers alike.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.