Sponsors (7)
Official title: Prohibit appropriations of funds for the payment of reimbursements for capital expenditures in the oil and gas sector, and for other purposes.
Introduced January 15, 2026 by Michael F. Bennet · Last progress January 15, 2026
The bill prevents taxpayer-funded support that could benefit Venezuela's oil sector and strengthens alignment with U.S. foreign policy, but it raises costs and risks for U.S. firms and investors, may reduce related U.S. jobs, and restricts some Americans' investment options.
U.S. taxpayers will not have to fund reimbursements for oil and gas capital projects in Venezuela, reducing federal exposure to financing projects tied to the Venezuelan regime.
Reduces the chance that U.S. government support would indirectly benefit Venezuela's oil and gas sector, aligning economic policy with U.S. foreign policy and sanctions objectives.
U.S. companies, investors, and financial partners working on Venezuelan oil and gas projects lose access to U.S. government reimbursements, increasing project costs, financial risk, and the chance projects are canceled or delayed.
Potential projects that could have created U.S. jobs or contractor revenue tied to Venezuela's energy sector may be discouraged, reducing employment and business opportunities for U.S. workers and firms.
The bill's broad definition of 'person' (including U.S. citizens and permanent residents) may limit Americans' ability to receive U.S.-linked financial support for investment activities tied to Venezuelan oil and gas.
Based on analysis of 2 sections of legislative text.
Bars use of U.S. government funds to reimburse capital expenditures for oil and gas investments located in Venezuela.
Prohibits any U.S. government funds or U.S.-controlled accounts from being used to reimburse capital expenditures for oil and gas projects located in Venezuela (or its legal successor). The ban covers reimbursements to U.S. citizens, lawful permanent residents, and domestic or foreign entities for amounts spent on new buildings or permanent improvements that raise property value in the Venezuelan oil and gas sector. The prohibition applies notwithstanding other law and bars obligations, expenditures, or availability of funds from the U.S. Treasury or any U.S.-owned/controlled account or by any person acting on behalf of the United States.