On Friday, August 19, a US court upheld a default judgment against US oil producer ConocoPhillips of US$8.75 billion over the expropriation of its Venezuelan oil assets.
The decision gives the US company new authority to recover the amount awarded by a World Bank tribunal in 2019.
The award includes interest that will increase the amount owed to Conoco by at least US$1 billion. Venezuela seized Conoco's assets during . . .
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