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To immediately halt investment by United States persons in the energy sector of Venezuela until the legitimate results of the July 28, 2024, election are respected.
1/10/2025, 9:20 AM
Summary of Bill HR 328
If passed, this legislation would prohibit US persons from making new investments in Venezuela's energy sector, including oil, gas, and renewable energy projects. It would also require the US government to monitor and report on any attempts by the Venezuelan government to interfere with the election process or suppress the rights of voters.
Supporters of the bill argue that it is necessary to send a strong message to the Venezuelan government that the US will not tolerate any actions that undermine democracy or violate human rights. Critics, however, may argue that the bill could have negative economic consequences for both the US and Venezuela, as well as potentially exacerbate tensions between the two countries. Overall, Bill 119 HR 328 represents a significant step in US-Venezuela relations and highlights the ongoing challenges faced by both countries in promoting democracy and human rights.
Congressional Summary of HR 328
Revoke Exemptions for Venezuelan Oil to Curb Autocratic Repression Act of 2025 or the REVOCAR Act of 2025
This bill prohibits U.S. investment in Venezuela's energy sector.
Specifically, the bill prohibits any transaction by a U.S. person (individual or entity) to invest, trade, or operate within Venezuela's energy sector and any transaction that attempts to evade such prohibition. This prohibition includes the provision of goods, services, or finance to (1) Venezuela's state-owned oil and natural gas company (Petroleos de Venezuela, S.A.), its subsidiaries, representatives, or related companies; or (2) the regime of Nicolas Maduro or any nondemocratic successor government in Venezuela.
The prohibitions of this bill terminate on the earlier of December 31, 2027, or the date the President submits a determination to Congress that the Maduro regime has recognized the July 28, 2024, electoral victory of Edmundo Gonzalez and relinquished power to the democratically elected government.
The President may waive these prohibitions on a case-by-case basis for not more than 90 days after determining such a waiver is vital to U.S. national security interests and submitting a report to Congress. Such waivers may be renewed.
