Bill 119 HR 328, also known as the "Venezuela Energy Sector Investment Halt Act," aims to stop US individuals and entities from investing in Venezuela's energy sector until the results of the July 28, 2024 election are recognized as legitimate. This bill is a response to concerns about the fairness and transparency of elections in Venezuela, and seeks to hold the Venezuelan government accountable for any potential violations of democratic principles.
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.