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Antigua and Barbuda Set to Battle US for $7 Billion
Antigua and Barbuda's ongoing compensation claim for loss of earnings due to the US's Internet gambling restrictions is set to reach up to $7 billion according to reports in the Antigua Sun newspaper.
The US lost its dispute with Antigua after the World Trade Organisation (WTO) ruled that it was wrong to forbid foreign competition for bets on Internet gambling while allowing domestic interstate bets.
The WTO also ruled that the US was in continued contravention of its commitments under the WTO General Agreement on Trade in Services (GATS) in relation to the limitations placed on remote gambling.
The US is currently threatening to withdraw from GATS altogether; a move that Antigua and Barbuda's attorney at the World Trade Organisation (WTO) Mark Mendel argues will result in spiralling compensation claims.
In June the island began the process of imposing trade sanctions valued at $3.4 billion annually on the US, filing a claim for concessions mainly via the suspension of Antigua's copyrights, trademarks, industrial designs and patents obligations to US.
source: OnlineCasinoNews |
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