Sponsors (23)
The bill prevents U.S. taxpayer-funded support for Venezuela's oil projects and increases congressional oversight, at the expense of reduced commercial opportunities and diplomatic tools, plus added reporting burdens and potential risks from disclosures.
U.S. taxpayers will not be asked to fund construction, subsidies, or federal support for Venezuela's petroleum projects, preventing public money from indirectly supporting the Venezuelan oil sector.
U.S. financial institutions and insurers face reduced risk of exposure from backing Venezuelan oil projects through federal programs (e.g., loan guarantees, insurance), lowering potential losses or reputational risk for those firms and limiting contingent liabilities for the U.S. government.
U.S. diplomacy and government advocacy at multilateral institutions will be more tightly aligned with sanctions policy by limiting federal advocacy for Venezuela petroleum projects, reducing contradictory messaging from the U.S. government.
U.S. firms, contractors, and exporters will lose potential business opportunities and export revenue tied to Venezuela's oil sector, which could reduce sales, contracts, and jobs for affected companies.
The restriction on U.S. participation in international financing or diplomatic initiatives related to Venezuelan petroleum projects narrows tools available to leverage multilateral engagement for political or economic reforms.
Limiting engagement with Venezuela's energy sector could reduce leverage for coordinated humanitarian or reconstruction projects that are tied to energy-sector cooperation, complicating recovery efforts.
Based on analysis of 4 sections of legislative text.
Bars use of any federal funds or U.S. government advocacy to finance, insure, or otherwise support Venezuela’s oil infrastructure or petroleum sector, and requires annual State Department reports.
Introduced January 13, 2026 by Mike Levin · Last progress January 13, 2026
Prohibits use of any federal 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. It bars a wide range of federal financial support and advocacy (including grants, loans, insurance, tax incentives, royalty relief, payments, and U.S. government promotion at multilateral forums), subject only to a later Act of Congress that explicitly authorizes such expenditures. The Secretary of State must provide an initial report within 180 days of enactment and annual reports thereafter describing any related expenditures or activities and certifying compliance.