Chile’s latest “National Lithium Strategy” seeks to promote state control and public-private collaboration

On April 20, 2023, Chile’s president, Gabriel Boric announced Chile’s new policy on the extraction and production of lithium, the “National Lithium Strategy” (the “Strategy”) (speech available here).  The Strategy is comprised of a set of high-level principles and general measures aimed at changing the framework applicable to the extraction and production of lithium in … Read more

Colombia and Venezuela agree a new Bilateral Investment Treaty, Venezuela’s first since withdrawing from the ICSID Convention

On February 23, 2019, Venezuela broke diplomatic relations with Colombia and gave Colombian diplomats twenty-four hours to leave the country. Four years later, on February 3, 2023, Colombia and Venezuela signed an unprecedented bilateral investment treaty (BIT) that evidences the marked improvement in their relations since the election of President Gustavo Petro in June 2022. … Read more

OFAC Issues License to Trinidad and Tobago Related to Venezuelan Gas

On January 24, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (“OFAC”) reportedly issued a specific license to Trinidad and Tobago to develop a major gas field located in Venezuelan territorial waters (the “Trinidad and Tobago License”). According to recent media reports, the Trinidad and Tobago License is “intended to enhance … Read more