Legis Daily

Halt All United States Investments in Venezuela’s Energy Sector Act of 2025

USA119th CongressS-261| Senate 
| Updated: 1/27/2025
Richard J. Durbin

Richard J. Durbin

Democratic Senator

Illinois

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill seeks to immediately halt investment by United States persons in Venezuela's energy sector. It specifically prohibits petroleum-related transactions that were previously allowed under the October 2023 Barbados Agreement or certain Office of Foreign Assets Control (OFAC) General Licenses. This measure is enacted in response to the Maduro regime's refusal to acknowledge the results of the July 28, 2024, presidential election, which findings indicate showed a decisive victory for opposition candidate Edmundo Gonzalez. The prohibition will remain in effect until the President determines that the Maduro regime has recognized the 2024 election results and relinquished power to a legitimately elected or agreed-upon transitional government. The President may waive these prohibitions for national security interests, provided a report is submitted to Congress. Violations of these prohibitions are subject to penalties under the International Emergency Economic Powers Act, with the Secretary of the Treasury responsible for implementation.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 118-4993
Halt All United States Investments in Venezuela’s Energy Sector Act of 2024
Jan 27, 2025
Introduced in Senate
Jan 27, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S396; text: CR S396-397)
  • Bill from Previous Congress

    S 118-4993
    Halt All United States Investments in Venezuela’s Energy Sector Act of 2024


  • January 27, 2025
    Introduced in Senate


  • January 27, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S396; text: CR S396-397)

International Affairs

Halt All United States Investments in Venezuela’s Energy Sector Act of 2025

USA119th CongressS-261| Senate 
| Updated: 1/27/2025
This bill seeks to immediately halt investment by United States persons in Venezuela's energy sector. It specifically prohibits petroleum-related transactions that were previously allowed under the October 2023 Barbados Agreement or certain Office of Foreign Assets Control (OFAC) General Licenses. This measure is enacted in response to the Maduro regime's refusal to acknowledge the results of the July 28, 2024, presidential election, which findings indicate showed a decisive victory for opposition candidate Edmundo Gonzalez. The prohibition will remain in effect until the President determines that the Maduro regime has recognized the 2024 election results and relinquished power to a legitimately elected or agreed-upon transitional government. The President may waive these prohibitions for national security interests, provided a report is submitted to Congress. Violations of these prohibitions are subject to penalties under the International Emergency Economic Powers Act, with the Secretary of the Treasury responsible for implementation.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 118-4993
Halt All United States Investments in Venezuela’s Energy Sector Act of 2024
Jan 27, 2025
Introduced in Senate
Jan 27, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S396; text: CR S396-397)
  • Bill from Previous Congress

    S 118-4993
    Halt All United States Investments in Venezuela’s Energy Sector Act of 2024


  • January 27, 2025
    Introduced in Senate


  • January 27, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S396; text: CR S396-397)
Richard J. Durbin

Richard J. Durbin

Democratic Senator

Illinois

Banking, Housing, and Urban Affairs Committee

International Affairs

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted