Like a bottomless barrel, Venezuela continues to rack up more lawsuits and payment judgments. In this case, a foreign arbitration award has been recognized by a District Court, granting Venezuela US SRL USD 137,832,778, which the Bolivarian Republic of Venezuela is appealing before the U.S. Court of Appeals for the District of Columbia.
The case between Venezuela US SRL and the Bolivarian Republic of Venezuela is being decided in the District Court of Columbia. On June 9, 2025, Judge Jia M. Cobb ruled in favor of recognizing and enforcing the Arbitral Award presented by Venezuela US SRL (VUS) against Venezuela. The claim: the company, registered in Barbados and a subsidiary of Occidental Petroleum Corporation, demands payment of dividends from an investment in Petroritupano S.A.
The order dated June 9 granted USD 109 million to the claimant, but the decision was amended on August 14, 2025, raising the payment obligation to USD 137,832,778. The appeal seeks to review the District Court’s decision from June 9, 2025, which granted the request of Venezuela US SRL.
Venezuela’s Appeal
On August 14, 2025, the Bolivarian Republic of Venezuela filed an appeal with the U.S. Court of Appeals for the District of Columbia regarding the District Court’s recognition and enforcement of a foreign arbitration award in favor of Venezuela US SRL.
Venezuela contests the District Court order from June 9, 2025, which granted the request of Venezuela US SRL to recognize and enforce a foreign arbitration award under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, known as the New York Convention.
Judgments Under Review
The appeal from Venezuela seeks a review of the following decision:
Order and Opinion Memorandum from the District Court dated June 9, 2025, in the case Venezuela US SRL vs. the Bolivarian Republic of Venezuela, which “granted the claimant’s request to recognize and enforce a foreign arbitration award under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, also known as the New York Convention.”
Venezuela calls for a review of the Order and Opinion Memorandum from the District Court dated June 9, 2025, in the case Venezuela US SRL vs. the Bolivarian Republic of Venezuela, No. 22-cv-3822-JMC, which granted the request to recognize and enforce a foreign arbitration award under the New York Convention.
The outcome of this appeal could set an important precedent for future enforcement cases of arbitration awards against sovereign states in the United States.
The Amended Decision
On August 14, 2025, Judge Jia M. Cobb issued the Modified Order and Final Judgment, granting the request of Venezuela US SRL (VUS) for recognition and enforcement of a foreign arbitration award against the Bolivarian Republic of Venezuela.
This final judgment in favor of VUS details various monetary amounts awarded. These totals include compensation, accrued interest, post-award interest, and legal and arbitration costs, amounting to USD 137,832,778 as of June 23, 2025. Furthermore, it states that post-judgment interest will be determined according to the relevant federal statute.
Financial Components of the Final Judgment
The final judgment in favor of VUS breaks down the following amounts, as reflected in the Arbitral Award:
USD 58,870,898 as compensation.
USD 46,624,436 in interest, accrued between May 31, 2011, and November 4, 2022, on the previously awarded compensation.
USD 27,930,116 in post-award interest, from June 23, 2025, on the previously awarded amounts.
USD 3,215,534.99 for incurred legal representation and assistance costs.
USD 491,772 in post-award interest, from June 23, 2025, on legal representation costs.
USD 607,163.35 for arbitration costs, converted from euros to USD using the exchange rate data from the European Central Bank on the date the Award was issued.
USD 92,857.31 in interest, from June 23, 2025, on arbitration costs.
Total judgment in favor of VUS: USD 137,832,778 (as of June 23, 2025).
The order specifies that “post-judgment interest will be determined in accordance with 28 U.S.C. § 1961.” This implies that the total amount owed will continue to accrue interest after the judgment date, per U.S. federal law.
This ruling in a U.S. court opens pathways for the enforcement of Venezuelan assets that may be found within the jurisdiction of the United States.
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