Sponsors (7)
The bill prevents U.S. financial and diplomatic support for Venezuelan oil projects—reducing taxpayer exposure and signaling opposition to the Maduro government—at the cost of lost market opportunities for U.S. firms and reduced diplomatic flexibility.
U.S. taxpayers and the federal government will not finance or advocate for Venezuelan petroleum projects, reducing U.S. diplomatic/financial support for the Maduro government and limiting U.S. backing at multilateral banks.
Taxpayers face lower fiscal risk because the bill avoids loan guarantees, insurance, royalty relief, or other federal financial exposure tied to Venezuelan oil projects.
Taxpayers and Congress gain annual reporting on U.S. expenditures or activities involving Venezuela’s oil sector, increasing transparency and enabling quicker congressional oversight and policy adjustments.
U.S. energy companies, contractors, and small exporters lose access to federal-financed opportunities in Venezuela’s oil sector, reducing potential export and contracting revenue.
Federal employees, diplomats, and foreign‑policy officials face restrictions on engagement and advocacy related to Venezuelan energy projects, limiting diplomatic flexibility and available tools.
The restriction creates future policy uncertainty because a later Congress could reverse the prohibition or authorize expenditures, leaving taxpayers with unclear long-term commitments.
Based on analysis of 4 sections of legislative text.
Prohibits use of federal funds or U.S.-accessible accounts to finance, subsidize, insure, guarantee, contract for, or otherwise support Venezuela’s oil infrastructure or petroleum sector, with an annual State Department compliance report.
Prohibits the use of any federal funds or U.S.-accessible accounts to finance, subsidize, insure, guarantee, contract for, or otherwise support development, maintenance, or expansion of oil infrastructure or the petroleum sector in Venezuela. 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. The prohibition covers a wide range of support (construction, purchase of property, insurance, loan guarantees, tax incentives, royalty relief, payments, and U.S. advocacy in international forums) but allows an exception if Congress later enacts an express authorization permitting such expenditures.
Introduced January 13, 2026 by Jeff Merkley · Last progress January 13, 2026