New Developments in Relation to the Legal Representation of Venezuela in International Proceedings

    On 23 January 2019, after Nicolas Maduro began his second term as Venezuela’s president, the Venezuelan opposition leader Juan Guaidó proclaimed himself Venezuela’s “acting president” and swore himself as interim president of Venezuela.  Following Guaidó’s declaration, more than 50 countries, including the United States, Canada, several EU Member States, and various Latin American countries, recognized … Read more

    MEXICO ENERGY ALERT: Initiative to Radically Change Mexico’s Electric Power Industry

    On February 1, 2021, Mexican President Andrés Manuel Lopez Obrador submitted to Congress an initiative (the “Initiative”) to amend the Electric Power Industry Law. The Initiative appears to be part of the current administration’s plan to reverse the Energy Reform introduced by former president Enrique Peña Nieto in 2013 (“the Energy Reform”) that liberalized the … Read more

    Chile’s Decarbonization Strategy: Leading the Way by Example

    Fighting climate change is a particularly relevant goal for Latin America since it is home to half of the planet’s biodiversity and over a quarter of its forests.[1]  It therefore does not come as a surprise that all the Latin American and Caribbean countries ratified the Paris Agreement between 2016 and 2018.  The Paris Agreement … Read more

    The US Department of State Re-Designates Cuba as a State Sponsor of Terrorism

    On January 11, the US Department of State (“State Department”) re-designated Cuba to the US State Sponsors of Terrorism List (“SST List”) for “repeatedly providing support for acts of international terrorism in granting safe harbor to terrorists.” Notably, the Trump administration announced the decision shortly before the inauguration of President-elect Biden. The decision to re-designate … Read more

    OFAC Sanctions Chinese Tech Company for Violating Venezuela Sanctions

    On November 30, OFAC designated China National Electronics Import and Export Corporation (“CEIEC”) to its Specially Designated Nationals and Blocked Persons list (“SDN List”). The OFAC press release is available here. CEIEC is a Chinese state-owned technology corporation. According to its website, CEIEC claims that it is a “close partner of many foreign government[s], military and security … Read more

    OFAC Extends Venezuela General License 8, Enabling US Energy Companies to Continue Engaging in Limited Activities With PdVSA

    On November 17, OFAC issued General License 8G, Authorizing Transactions Involving Petróleos de Venezuela, S.A. (“PdVSA”) Necessary for the Limited Maintenance of Essential Operations in Venezuela or the Wind Down of Operations in Venezuela for Certain Entities (“GL 8G.”). GL 8G, like its predecessor General License No. 8F (“GL 8F”), authorizes several  US energy companies to engage … Read more

    BOLIVIA RATIFIES THE MAURITIUS CONVENTION ON TRANSPARENCY IN INVESTOR-STATE ARBITRATION

    Bolivia has become the seventh state to ratify the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration, also known as the “Mauritius Convention”. State parties to the Mauritius Convention commit to greater transparency in investor-state dispute settlement (ISDS) proceedings. Specifically, by ratifying the Mauritius Convention, Bolivia consents to extend the application of the UNCITRAL … Read more

    OFAC Issues New Venezuela General License, Effectively Delaying Creditors’ Ability to Seize Citgo Assets

    On October 6, OFAC issued General License 5E, Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After January 19, 2021 (“GL-5E”). GL-5E appears intended to protect bondholders of CITGO Holding, Inc. (“Citgo”), which is a wholly owned subsidiary of Venezuela’s state-owned oil and natural gas company, Petróleos … Read more

    Venezuela Update: Summer of Sanctions Sees Continuation of US Maximum Pressure Campaign in Venezuela

    As the United States continues its “maximum pressure” campaign on the Maduro regime in Venezuela, the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) has added 32 additional individuals, entities, and vessels to the Specially Designated Nationals (“SDN”) and Blocked Person List, from June to September 2020. The campaign is designed to cut … Read more