Judge Sets Aside Default, But Still Confirms $1B Oil Award Against Venezuela

( September 29, 2025, 1:44 PM EDT) -- WASHINGTON, D.C. — A District of Columbia federal judge on Sept. 26 granted the Bolivarian Republic of Venezuela’s motion to set aside a clerk’s default against it, then granted a motion for summary judgment filed by three Exxon Mobil entities and confirmed an International Centre for Settlement of Investment Disputes (ICSID) award worth roughly $1 billion against Venezuela for the expropriation of oil investments....