Accessibility links

Breaking News

Bolivian, Brazilian Presidents Vow to Resolve Differences


The presidents of Brazil and Bolivia have vowed to resolve their differences over La Paz's nationalization of its energy industry.

Brazilian leader Luiz Inacio Lula da Silva and Evo Morales of Bolivia met Saturday in Vienna on the sidelines of the European Union-Latin America summit. Mr. Morales says the neighboring South American nations are allies, and he blamed the media for portraying them as adversaries.

The Bolivian president also says his government will continue to negotiate with Brazil's state-owned energy giant Petrobras about continuing to operate in Bolivia.

Mr. Morales nationalized Bolivia's energy sector May 1, and gave foreign energy companies 180 days to agree to new contracts with the state-owned firm.

He triggered further concerns Thursday when he said foreign oil companies may not be compensated for revenues that have been nationalized.

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