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119-hr-328119th CongressWALLET

REVOCAR Act of 2025

Sponsored By: Representative Wasserman Schultz, Debbie [D-FL-25]

Introduced

Summary

Blocks U.S. investment in Venezuela's energy sector to pressure the Maduro regime to accept the July 28, 2024 election result. The bill would ban transactions by U.S. persons that invest, trade, operate, or provide goods, services, or financing to Petróleos de Venezuela, S.A., its affiliates, or the Maduro regime until the earlier of December 31, 2027 or the date the President determines the regime has recognized the election and relinquished power.

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  • U.S. investors and companies would be barred from engaging in Venezuela's oil and gas sector, including contracts with PDVSA and related firms. The term "U.S. person" covers U.S. citizens, lawful permanent residents, entities organized under U.S. law, foreign branches, and people located in the United States.
  • The Maduro regime and Petróleos de Venezuela, S.A. would lose legal channels for U.S. finance, goods, and services, aiming to constrain resources used to sustain nondemocratic control and repression.
  • The Treasury Department, in consultation with State, would write implementing rules and could use authorities under the International Emergency Economic Powers Act. The President could grant case-by-case waivers for up to 90 days, renewable, and must report detailed justifications to Congress.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Ban on U.S. Venezuela energy deals

If enacted, this would ban U.S. persons and U.S.-owned firms from investing, trading, or operating in Venezuela’s energy sector. It would include selling goods, services, or financing to PDVSA and related companies, even if you have an existing contract or license. The ban would start on enactment and end when the Maduro regime recognizes the July 28, 2024 election and gives up power, or on December 31, 2027. The President could grant case-by-case waivers for up to 90 days, renew them in 90-day steps, and allow them only at least 30 days after a national security finding with a detailed report to Congress. Violations would face penalties under the International Emergency Economic Powers Act. Treasury, in consultation with State, could issue rules to enforce these limits.

Sponsors & CoSponsors

Sponsor

Wasserman Schultz, Debbie [D-FL-25]

FL • D

Cosponsors

  • Rep. Salazar, Maria Elvira [R-FL-27]

    FL • R

    Sponsored 1/9/2025

  • Rep. Suozzi, Thomas R. [D-NY-3]

    NY • D

    Sponsored 5/20/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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