Region: Venezuela

An ICSID committee has upheld an award requiring Venezuela to pay US$3 billion to a Spanish investor for expropriating an agribusiness group.

14 April 2025

A Swiss court has upheld an UNCITRAL tribunal’s decision to dismiss a US$200 million investment treaty claim against Venezuela because the claimant’s dominant and effective nationality was Venezuelan rather than Spanish. 

12 March 2025

Toronto-listed mining company Gold Reserve has filed a new investment treaty claim worth more than US$7 billion against Venezuela – while continuing efforts to collect on a billion-dollar award it won against the state in an earlier arbitration. 

06 March 2025

Toronto-listed mining company Gold Reserve says a Portuguese court has confirmed its decade-old investment treaty award against Venezuela now worth more than US$1.1 billion. 

25 February 2025

Venezuela has applied to ICSID to annul a US$470 million award in favour of a Dublin-based paper packaging company, in which a tribunal majority found it had jurisdiction even though the claim was filed after the state withdrew from the ICSID Convention.

10 January 2025

The Delaware court overseeing the auction of Venezuela’s US refinery business Citgo Petroleum is set to overhaul the process after the country’s arbitral creditors refused to support a proposed US$7 billion sale.  

02 December 2024

Venezuela has knocked out a second treaty claim lodged by a Dutch lubricants investor with Venezuelan owners – one of whom was reportedly convicted over his involvement in a plot to overthrow the country’s president Nicolás Maduro while the arbitration was pending.

21 October 2024

Two Spanish-Venezuelan nationals have taken their battle to collect on a US$350 million treaty award against Venezuela to the US courts. 

11 October 2024

ConocoPhillips has persuaded a court in Trinidad and Tobago to appoint a receiver over payments the Caribbean country owes to Venezuela’s PDVSA, as part of the US oil company’s efforts to recover US$1.3 billion under an ICC award. 

02 October 2024

A Curaçao court has allowed Belgium’s export credit agency to enforce a US$25 million ICC award against a subsidiary of Venezuelan state-owned oil company PDVSA.

03 September 2024