Sponsors (23)
Bars federal and U.S.-controlled funds from supporting development, maintenance, or expansion of Venezuela's oil infrastructure and requires annual State Department reporting certifying compliance.
The bill reduces U.S. financial exposure to Venezuela’s oil sector and strengthens sanctions-aligned policy while increasing transparency and oversight — but it also limits commercial opportunities, constrains diplomatic flexibility, raises legal/compliance ambiguity due to an undefined committee list, and risks revealing sensitive information through reporting.
U.S. taxpayers and the federal government face lower risk of funding or backstopping Venezuelan petroleum projects — the bill bars U.S. support (loans, guarantees, insurance, incentives) for such projects, reducing contingent liabilities and aligning policy with sanctions.
U.S. foreign-policy tools are strengthened against the Maduro regime — the bill limits U.S. advocacy for Venezuelan oil interests at multilateral banks and diplomatic forums, reinforcing sanctions leverage and policy coherence.
Taxpayers and Congress get more regular transparency on U.S. activities involving Venezuela’s oil sector — the bill requires an initial report within 180 days and annual reports thereafter on relevant actions and expenditures.
U.S. companies and investors lose access to federal-backed support (loan guarantees, insurance, tax or other incentives) for projects in Venezuela, reducing commercial opportunities and potential revenues for affected firms.
The bill leaves a committee list undefined, creating ambiguity for lawmakers, oversight bodies, and recipients about who must receive reports or briefings; this raises the risk of missed compliance, delayed review, and legal or jurisdictional disputes.
Public reporting of detailed activities and expenditures could reveal sensitive diplomatic or operational information related to Venezuela’s petroleum sector, risking exposure of methods or plans and complicating foreign-policy operations.
Based on analysis of 4 sections of legislative text.
Official title: To prohibit the United States Government from funding Venezuela's oil infrastructure, and for other purposes.
Introduced January 13, 2026 by Mike Levin · Last progress January 13, 2026
Prohibits the use of federal funds or U.S.-controlled funds to finance, subsidize, insure, guarantee, contract for, or otherwise support the development, maintenance, or expansion of oil infrastructure or the petroleum sector in Venezuela, while allowing Congress to authorize exceptions in a later law. Requires the Secretary of State to report to specified congressional committees within 180 days of enactment and annually thereafter describing any related expenditures or activities and certifying compliance with the prohibition.