By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Commodities > World Court rejects Nicaragua claims in maritime border dispute with Colombia
Commodities

World Court rejects Nicaragua claims in maritime border dispute with Colombia

News Room
Last updated: 2023/07/13 at 11:37 AM
By News Room
Share
2 Min Read
SHARE

AMSTERDAM/BOGOTA (Reuters) -The World Court on Thursday rejected a suit by Nicaragua seeking to define and expand its deep sea economic rights beyond those previously established in a long-running maritime border dispute with Colombia.

Judges found that Nicaragua’s offshore rights to 200 nautical miles (370 km) have previously been established. The World Court, or International Court of Justice, is the U.N. court for resolving disputes between nations.

“A great victory for Colombia in The Hague,” Colombia’s President Gustavo Petro said in a message on Twitter.

The Colombian archipelago includes the islands of San Andres, Providencia and Santa Catalina.

In November 2021, amid the coronavirus pandemic, Category 5 Hurricane Iota slammed into Providencia, destroying or damaging nearly all of the infrastructure on the island, which is home to some 6,000 people.

“With this ruling we hope to close the border dispute and focus on bringing sustainable development to our archipelago,” Petro said.

Since the early 20th century Nicaragua and Colombia have disputed ownership of the mineral and fish-rich waters in the Caribbean Sea, though the two countries do not share a land border.

Nicaragua had asked the World Court to define boundaries beyond 200 nautical miles based on the continental shelf extending from its territory.

“Irrespective of any scientific and technical considerations, Nicaragua is not entitled to an extended continental shelf within 200 nautical miles from the baselines of Colombia’s mainland coast,” court President Judge Joan Donoghue said, reading the decision.

In a 2012 ruling, the same court determined maritime boundaries between the countries in a decision that reduced the expanse of sea belonging to Colombia and gave Nicaragua rights to some underwater oil and gas deposits, as well as fishing rights.

Read the full article here

News Room July 13, 2023 July 13, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
European investors must brace for a year of geopolitical instability

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

China factory activity returns to growth after record contraction

Stay informed with free updatesSimply sign up to the Chinese economy myFT…

Why this analyst agrees with Michael Burry in Tesla’s overvaluation.

Watch full video on YouTube

Why U.S. Shipbuilding Collapsed — And The Push To Rebuild It

Watch full video on YouTube

Saudi Arabia bombs UAE-backed faction in Yemen

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Commodities

Russia mulls extra tax for some commodities exports, including metals – sources

By News Room
Commodities

Gold prices tumble as Fed talks higher rates

By News Room
Commodities

Crude oil prices endure downturn amid U.S. interest rate hike anticipation

By News Room
Commodities

China approves export licences for chip materials gallium, germanium

By News Room
Commodities

European energy crisis: ECB, IEA and EIB to strategize on systematic transition amid soaring prices

By News Room
Commodities

Federal Reserve interest rate signals prompt oil price dip

By News Room
Commodities

Oil prices inch closer to $100 per barrel amid inflation concerns

By News Room
Commodities

Brent Crude Prices May Hit $120 per Barrel, Warns JPMorgan

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?