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Prohibiting Oil Trade with Venezuela’s Tyrant Act

12/29/2022, 9:48 PM

Summary of Bill HR 7023

Bill 117 hr 7023, also known as the Prohibiting Oil Trade with Venezuela’s Tyrant Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to prohibit the importation of oil and petroleum products from Venezuela. This is in response to the political situation in Venezuela, where President Nicolas Maduro has been accused of human rights abuses and authoritarian behavior.

The bill aims to put pressure on the Maduro regime by cutting off a major source of revenue for the Venezuelan government. By prohibiting the importation of Venezuelan oil, the United States hopes to weaken Maduro's grip on power and support the Venezuelan people in their quest for democracy and freedom.

Supporters of the bill argue that it is necessary to take a strong stance against the Maduro regime and show solidarity with the Venezuelan people. They believe that cutting off oil trade with Venezuela will help to bring about positive change in the country and support the efforts of the Venezuelan opposition. Opponents of the bill, on the other hand, argue that it could have negative consequences for the Venezuelan people, who are already suffering from a severe economic crisis. They worry that cutting off oil trade could further destabilize the country and harm ordinary Venezuelans who rely on oil exports for their livelihoods. Overall, the Prohibiting Oil Trade with Venezuela’s Tyrant Act is a controversial piece of legislation that seeks to address the political situation in Venezuela through economic means. It remains to be seen how effective this bill will be in achieving its goals and what impact it will have on the Venezuelan people.

Current Status of Bill HR 7023

Bill HR 7023 is currently in the status of Bill Introduced since March 9, 2022. Bill HR 7023 was introduced during Congress 117 and was introduced to the House on March 9, 2022.  Bill HR 7023's most recent activity was Referred to the House Committee on Ways and Means. as of March 9, 2022

Bipartisan Support of Bill HR 7023

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
50
Democrat Cosponsors
0
Republican Cosponsors
50
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7023

Primary Policy Focus

Foreign Trade and International Finance

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