Sponsor
Richard Joseph Durbin
Senator · D-IL
The bill increases U.S. leverage to pressure the Maduro regime and clarifies prohibitions that reduce sanction-risk for U.S. firms, but does so at the cost of raising geopolitical tensions, harming some U.S. businesses tied to Venezuelan petroleum, and heightening expectations among Venezuelan communities.
Taxpayers and U.S. policymakers gain documented legal and political tools and direct leverage to press the Maduro regime (including justification for targeted sanctions and restrictions on petroleum revenues) to promote a democratic transition in Venezuela.
Venezuelan migrants and asylum-seekers benefit from stronger official recognition of human-rights abuses, improving the case for humanitarian assistance and asylum pathways.
U.S. financial institutions and businesses face reduced legal and reputational risk because the bill clarifies and prohibits certain Venezuela petroleum transactions that could run afoul of sanctions.
Small U.S. exporters, service providers, and other businesses that rely on Venezuela petroleum contracts could lose revenue or contracts due to the prohibition on certain deals.
Taxpayers and broader U.S. interests could face increased geopolitical tensions and greater involvement in Venezuela-related diplomacy or sanctions, which may carry economic or security costs.
Venezuelan-American communities and asylum-seekers may have raised expectations for immediate U.S. action or relief, creating political pressure and potential dissatisfaction if prompt measures are not feasible.
Based on analysis of 3 sections of legislative text.
Prohibits certain U.S. petroleum transactions with Venezuela immediately, revoking specific prior licenses and agreements until the Maduro regime concedes power or recognizes the July 28, 2024 election result.
Senator · D-IL
Prohibits U.S. persons from engaging in certain petroleum-related transactions with Venezuela immediately upon enactment, revoking specific licenses and agreements that previously allowed those transactions. The ban stays in force until the President certifies that the Maduro regime has recognized the July 28, 2024 election result in favor of Edmundo Gonzalez and relinquished power to the legitimately elected or transitional government. The Treasury Secretary, with State consultation, implements the prohibition using IEEPA authorities, can issue regulations, and enforces civil and criminal penalties for violations; the President may temporarily waive the ban for national security reasons with report to Congress.
Official title: Immediately halt investment by United States persons in the energy sector of Venezuela until the legitimate results of the July 28, 2024, election are respected.
Introduced January 27, 2025 by Richard Joseph Durbin · Last progress January 27, 2025