- A World Bank tribunal orders Venezuela to pay $162M to Tenaris (NYSE:TS) for expropriating two investments in the country in 2012.
- The ruling adds pressure on Venezuela after a similar decision earlier this year, when the ICSID arbitrator ordered the government to pay the steelmaker ~$172.8M for the takeover of another unit.
- Venezuela faces more than 20 pending arbitration awards, most stemming from nationalizations during the Hugo Chavez presidency.