Halt All United States Investments in Venezuela’s Energy Sector Act of 2025
Sponsored By: Senator Durbin, Richard J. [D-IL]
Introduced
Summary
Ban on U.S. investment in Venezuela's energy sector. This bill would impose an immediate prohibition on U.S. persons engaging in petroleum-related transactions tied to the Barbados Agreement or to General License No. 41 or General License No. 8M issued by the Office of Foreign Assets Control (OFAC).
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- U.S. investors and companies: U.S. citizens, permanent residents, entities organized in the United States, and anyone located in the U.S. would be barred from the specified petroleum transactions. Violators would face civil and criminal penalties under the International Emergency Economic Powers Act.
- Federal agencies and regulators: The Secretary of the Treasury, working with the Secretary of State, could issue regulations and use IEEPA authorities to implement and enforce the ban. All federal agencies must take appropriate actions within their authority to carry it out.
- Executive waiver and end condition: The President could waive the ban for national security reasons but must report the waiver to the relevant congressional committees. The prohibitions would end only after the President certifies the Maduro regime has recognized Edmundo Gonzalez's July 28, 2024 electoral victory and relinquished power to the legitimately elected government or an agreed transitional government.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Ban on U.S. investment in Venezuela energy
If enacted, this bill would ban United States persons from making petroleum-related investments or transactions with Venezuela starting on the date of enactment. It would bar deals allowed by the Barbados Agreement and transactions allowed under OFAC General License No. 41 or No. 8M as of the day before enactment. The Treasury Secretary, with the Secretary of State, could write rules and use emergency IEEPA powers to implement and enforce the ban. People who break the ban could face civil and criminal penalties under existing IEEPA law. The President could waive the ban for national security reasons, but must send a written report to four congressional committees and may include a classified annex. The ban would end only after the President reports that the Maduro regime recognized the July 28, 2024 election of Edmundo Gonzalez and relinquished power or agreed to a transitional government that includes the legitimately elected opposition. The bill defines which congressional committees get reports and who counts as a "United States person."
Sponsors & CoSponsors
Sponsor
Durbin, Richard J. [D-IL]
IL • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov