REVOCAR Act of 2025

This bill, titled the "Revoke Exemptions for Venezuelan Oil to Curb Autocratic Repression Act of 2025" or the "REVOCAR Act of 2025," immediately prohibits United States persons from engaging in investment, trade, or operations within Venezuela's energy sector. This includes transactions with Petroleos de Venezuela, S.A. (PDVSA) and its subsidiaries, or with the regime of Nicolas Maduro and any non-democratic successor government. The legislation is a direct response to the Maduro regime's refusal to respect the results of the July 28, 2024, presidential election, which credible monitors indicated was won by opposition candidate Edmundo Gonzalez. The prohibition applies notwithstanding any prior contracts or licenses and includes any transactions designed to evade or avoid these restrictions. The Secretary of the Treasury, in consultation with the Secretary of State, is authorized to implement these provisions, including prescribing regulations, and may exercise authorities under the International Emergency Economic Powers Act (IEEPA). Violations of these prohibitions are subject to the penalties outlined in IEEPA. The investment ban will terminate upon the President's determination and submission to Congress that the Maduro regime has recognized the July 28, 2024, election results and relinquished power to the democratically elected government. Alternatively, the prohibitions will automatically terminate on December 31, 2027. The President also has the authority to issue case-by-case waivers for periods of up to 90 days if deemed vital to U.S. national security interests, with detailed reporting to Congress required for each waiver and renewal. These waiver reports must include a specific rationale, a description of permitted transactions, an explanation of efforts to restrict financial flows to the Maduro regime, and an assessment of the waiver's impact on democratic transition, the regime's financial resources, and its ability to violate human rights or threaten U.S. interests.