MEMORANDUM OPINION & ORDER
Plaintiffs, Koch Minerals Sàrl ("Koch Minerals") and Koch Nitrogen International Sàrl ("Koch Nitrogen"), filed this suit against Defendant, the Bolivarian Republic of Venezuela ("Venezuela"), seeking recognition of and judgment on an arbitral award issued by the International Centre for Settlement of Investment Disputes ("ICSID"). See ECF No. 7 (Am. Compl.), ¶¶ 1, 8. After Venezuela made a late appearance in this litigation, the Court granted Venezuela's Motion to Set Aside Default but denied its Motion to Dismiss, finding that Venezuela was properly served and that the matter was properly before a magistrate judge pursuant to 28 U.S.C. § 636(c)(1). See Koch Minerals Sàrl v. Bolivarian Republic of Venezuela, 514 F. Supp. 3d 20 (D.D.C. 2020), reconsideration denied sub nom. Sàrl v. Bolivarian Republic of Venezuela, No. 17-cv-2559, 2021 WL 3556565 (D.D.C. Feb. 22, 2021). Plaintiffs now move for summary judgment. See ECF No. 52 (Pls.' Mot. Summ. J.). For the reasons discussed herein, the Court GRANTS Plaintiffs' Motion for Summary Judgment and confirms the ICSID Award.