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119-s-3838119th Congress

Venezuela Oil Proceeds Transparency Act

Sponsored By: Senator Schumer, Charles E. [D-NY]

Introduced

Summary

Independent GAO audit of the U.S.–Venezuela energy deal. This bill would require the Government Accountability Office to audit the energy agreement and related federal actions, focusing on how oil sale proceeds are handled and whether there are risks of fraud, abuse, or conflicts of interest.

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  • Congress: The Comptroller General must give an interim briefing within 30 days after the audit finishes and deliver a full, unclassified report within 90 days, with a possible classified annex, to House and Senate leaders, committee chairs, and any requesting member.
  • Federal agencies and contractors: The audit covers the Departments of State, Energy, and Treasury and any other federal entities, employees, contractors, or entities funded by the U.S. involved in the deal. If access to information is unreasonably delayed or denied, the Comptroller General must notify relevant congressional committee leaders promptly.
  • Transparency and accountability: The audit must describe findings and conclusions and recommend legislative or administrative actions to address identified risks and clarify how proceeds from Venezuelan oil sales are settled and disbursed.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Schumer, Charles E. [D-NY]

NY • D

Cosponsors

  • Sen. Schiff, Adam B. [D-CA]

    CA • D

    Sponsored 2/11/2026

  • Sen. Alsobrooks, Angela D. [D-MD]

    MD • D

    Sponsored 9/16/2026

Roll Call Votes

No roll call votes available for this bill.

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