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Bolivia Says It Will Not Compensate Energy Companies

Bolivia's president says energy companies affected by his nationalization of natural gas will not be compensated if they recouped their investments.

Speaking on the sidelines of the EU-Latin American summit, Evo Morales also urged Colombia, Peru and Ecuador not to ratify trade deals with the United States.

Latin American and European leaders are in Vienna, Austria, for a summit aimed at strengthening cooperation between the continents. Bolivia's move to nationalize energy resources was expected to be discussed.

The EU Commission for External Relations and Neighborhood Policy, Benita Ferrero-Waldner issued a statement Wednesday saying Europe will do everything it can to clear the way for closer trade partnerships. But she said Latin American nations must overcome obstacles on their side.

Some information for this report was provided by AFP, AP and Reuters.