Sponsors
The bill strengthens U.S. leverage and justification for pressuring the Maduro regime and reduces sanction-compliance risk for some firms, but it can cause lost business for U.S. exporters, elevate geopolitical tensions, and raise expectations among Venezuelan immigrants that may be hard to meet.
Taxpayers and U.S. policymakers: increases U.S. leverage to press for a democratic transition in Venezuela by documenting abuses and restricting petroleum revenue streams to the Maduro regime, enabling targeted diplomacy and sanctions.
Financial institutions: prohibition on certain Venezuela petroleum dealings reduces legal and reputational risk from inadvertent sanction violations.
Immigrants and Venezuelan asylum-seekers: highlighting human-rights abuses strengthens the case for humanitarian assistance and asylum pathways for those fleeing persecution.
U.S. exporters, service providers, and small businesses: may lose revenue or contracts because the ban on certain Venezuela petroleum deals limits commercial opportunities.
Taxpayers and U.S. national interests: could increase U.S. diplomatic and sanctions involvement with Venezuela, raising geopolitical tensions that may affect U.S. economic or security interests.
Venezuelan-Americans and asylum-seekers: the bill may raise expectations for immediate U.S. action or relief that could be politically difficult to deliver quickly.
Based on analysis of 3 sections of legislative text.
Prohibits U.S. persons from certain petroleum-related transactions with Venezuela that relied on the Barbados Agreement or specified OFAC general licenses until Maduro recognizes the disputed July 28, 2024 election and leaves power.
Prohibits U.S. persons from conducting certain petroleum-related transactions with Venezuela that would rely on the October 2023 Barbados Agreement or specific OFAC general licenses in effect before enactment. The prohibition begins on enactment, can be implemented using IEEPA authorities by the Treasury (with State consultation), is enforceable civilly and criminally, and can be waived by the President for U.S. national security reasons; it ends only when the President certifies that the Maduro regime has recognized the July 28, 2024 election result and relinquished power to the legitimately elected or transitional government. The Act also includes findings about the July 28, 2024 Venezuelan election and related government actions, requires all U.S. agencies to take measures to implement the prohibition, and allows the Treasury to issue implementing regulations and to use specified IEEPA enforcement tools. The President must report any national security waiver to designated congressional committees (the report may be classified).
Introduced January 27, 2025 by Richard Joseph Durbin · Last progress January 27, 2025