Venezuela abandons appeal against Rusoro’s USD 1 billion + ICSID Award, paving the way for enforcement actions around the world

Venezuela’s decision to abandon its appeal against – therefore rendering final – the US District Court for the District of Columbia’s order confirming Rusoro’s USD 1 billion + ICSID award against Venezuela – coupled with the reinstatement of the Award by the French Cour de cassation – has paved the way for the award’s enforcement in any jurisdiction around the world.