Tenaris Logo. Retrieved from Wikidata
A D. C. federal judge granted Luxembourg-based steel pipe and tube supplier Tenaris SA’s bid to enforce a nearly $234 million arbitral award against Venezuela, rejecting the country’s argument that sanctions against it necessitate a stay. U. S. District Judge Carl Nichols signed off on an order Monday affirming the arbitration award issued after the country nationalized parts of its iron and steel sector. He did not accept the argument that the award should be stayed based on sanction regulations issued by the U. S. Department of the Treasury’s Office of Foreign Assets Control. Full Text -> Law360
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