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Tag: venezuela

Showing 11 out of 11 results

28 November 2024

China and Venezuela enter into new Bilateral Investment Treaty

Venezuela has recently published a new BIT with China, underscoring their strategic partnership. Following BITs with other states, this signals …

23 January 2024

Guyana-Venezuela boundary dispute: Maduro Administration announces resource exploitation measures

The longstanding boundary dispute between Guyana and Venezuela saw significant escalation at the end of 2023. The dispute concerns Guyanese-controlled …

13 March 2023

Colombia and Venezuela agree a new Bilateral Investment Treaty, Venezuela's first since withdrawing from the ICSID Convention

On February 23, 2019, Venezuela broke diplomatic relations with Colombia and gave Colombian diplomats twenty-four hours to leave the country. Four years …

10 March 2015

US establishes new Venezuela sanctions regime and imposes sanctions on Venezuelan officials

On Monday, 9 March 2015, President Obama signed an executive order declaring a national emergency to deal with the threat to US national security and …

22 December 2014

Flughafen Zürich A.G. and Gestión e Ingenería IDC S.A. v. Bolivarian Republic of Venezuela: when can multiple claimants bring claims under separate BITs in one set of proceedings?

This is the second of two posts discussing the recent award in Flughafen Zürich A.G. and Gestión e Ingenería IDC S.A. v. Bolivarian Republic of …

18 December 2014

Flughafen Zürich A.G. and Gestión e Ingenería IDC S.A. v. Bolivarian Republic of Venezuela: when may an entity be considered a "governmental instrumentality"?

On 18 November 2014, an ICSID Tribunal in Flughafen Zürich A.G. and Gestión e Ingenería IDC S.A. v. Bolivarian Republic of Venezuela, ICSID Case No. …

16 October 2014

Exxon Mobil is awarded US$1.6 billion in ICSID claim against Venezuela – to be set off against award in parallel contractual arbitration

On 9 October 2014, a tribunal of H.E. Judge Gilbert Guillaume (President), Professor Kaufmann-Kohler and Dr. Ahmed Sadek El-Kosheri rendered a final …

13 June 2014

No consent to ICSID jurisdiction found under Venezuelan Investment Law: distinction drawn between the intention of the drafters and the intentions of the State

In OPIC Karimun Corporation v Venezuela, an ICSID tribunal has held that Venezuela's Investment Law's reference to ICSID did not, without more, provide …

06 March 2013

President Hugo Chavez's Legacy: What Future for Investors in Venezuela?

Overnight the Venezuelan government has confirmed the death of President Hugo Chavez after a long battle with cancer. President Chavez had been a …

19 January 2012

Venezuela follows Bolivia and Ecuador with plans to denounce ICSID Convention

On 14 January 2012, Venezuela's Energy Minister, Rafael Ramírez, and president of state-owned oil utility PDVSA, announced the country's intention to …

08 February 2011

Venezuela - international tribunal confirms that Article 22 of the Venezuelan Investment Law does not constitute consent to ICSID arbitration

At the end of December 2010, in a decision that will be of interest to international companies doing business in Venezuela, an ICSID tribunal in the case …