Sponsors (23)
The bill reduces U.S. financial exposure to Venezuela's oil sector and increases transparency and sanctions leverage, but at the cost of reduced diplomatic and commercial flexibility, added reporting burdens and security risks, and an ambiguous committee definition that could hinder oversight and compliance.
U.S. taxpayers and financial institutions: reduces federal financial exposure and contingent liabilities by blocking U.S.-backed support (insurance, loan guarantees, tax incentives) for Venezuelan petroleum projects.
U.S. foreign policy actors and federal employees: reinforces U.S. sanctions leverage and limits advocacy for Venezuelan oil interests at multilateral banks and diplomatic forums, aligning U.S. positions against Venezuela's petroleum sector.
Taxpayers and Congress: increases transparency and oversight by requiring a detailed report within 180 days and annually thereafter and by requiring the Secretary to certify compliance, making it easier for Congress and the public to monitor U.S. actions related to Venezuela's oil sector.
U.S. diplomatic corps, negotiators, and national-security officials: narrows diplomatic flexibility and multilateral engagement on energy and development issues involving Venezuela, and may require a new Act of Congress for exceptions, potentially complicating coalition-building and delaying future assistance or projects.
U.S. companies, investors, and financial institutions: lose access to federal-backed support for projects in Venezuela (insurance, loan guarantees, tax incentives), which will limit commercial opportunities and could disadvantage U.S. firms versus non-U.S. competitors.
State Department staff, federal employees, and taxpayers: reporting and certification requirements increase administrative workload and costs to compile detailed activity and expenditure information, imposing modest recurring resource burdens.
Based on analysis of 4 sections of legislative text.
Bars use of federal or U.S.-controlled funds to finance, insure, or otherwise support Venezuela’s oil infrastructure and requires State to report and certify compliance within 180 days and annually.
Introduced January 13, 2026 by Mike Levin · Last progress January 13, 2026
Prohibits any federal funds, or funds in accounts owned, controlled, or accessible by the United States (or by persons acting on its behalf), from being used 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 also requires the Secretary of State to report within 180 days and annually on any related expenditures or activities and to certify compliance. The prohibition can be waived only by a later Act of Congress. The bill defines "appropriate congressional committees" but the listed committee names are left blank in the text, creating a drafting gap about report recipients.