ICSID Committee Denies Venezuela Application To Annul $8.5B Award In Oil Row

( January 23, 2025, 10:10 AM EST) -- WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) ad hoc committee on Jan. 22 dismissed in full the Bolivarian Republic of Venezuela’s challenges to an $8.5 billion award issued against it for expropriating the investments of three Dutch oil companies and ordered it to pay nearly $8 million in attorney fees and arbitration costs....