For arbitrations pending before July 25, 2012 (such as ours) it should have no effect at all. It is even questionable that it could effect arbitrations filed after July 25 becuase most of the bilateral treaties (read...contracts) between VZ and other countries provide for Icsid arbitration. Chavez' own attorney general has stated that it could take 10-15 years to renegotiate all those treaties to remove Icsid arbitration. In short, I think this is a non-issue.