Trinidad and Tobago’s High Court has reaffirmed its decision to recognize U.S. oil giant ConocoPhillips’ arbitration claim against Venezuela. This ruling, which could potentially freeze Trinidad’s payments to Venezuela for joint natural gas projects, marks a significant development in the ongoing dispute over expropriations of oil Conoco’s oil assets by the Venezuelan government. In May, the court’s original decision allowed ConocoPhillips to enforce a $1.33 billion claim against Venezuela by targeting compensation from joint energy ventures. Despite…