[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 261 Introduced in Senate (IS)]
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119th CONGRESS
1st Session
S. 261
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.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 27, 2025
Mr. Durbin introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
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.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Halt All United States Investments
in Venezuela's Energy Sector Act of 2025''.
SEC. 2. FINDINGS.
Congress makes the following findings:
(1) On July 28, 2024, more than 10,000,000 citizens of
Venezuela voted in a presidential election in which
meticulously documented and publicized data from credible
election monitors clearly and convincingly showed that
opposition candidate Edmundo Gonzalez received more than two-
thirds of the votes against the regime of Nicolas Maduro.
(2) The Maduro regime has refused to respect the
overwhelming choice of the people of Venezuela and subsequently
arrested and abused thousands of innocent citizens of
Venezuela, including children, for peaceful political
participation.
(3) Despite overwhelming evidence that Edmundo Gonzalez won
a decisive victory to be Venezuela's next president, the Maduro
regime ignored the results of the election and the law of
Venezuela by forcibly refusing to allow Gonzalez to be sworn in
on Venezuela's January 10, 2025, inauguration day.
SEC. 3. PROHIBITION ON INVESTMENT BY UNITED STATES PERSONS IN ENERGY
SECTOR OF VENEZUELA UNTIL THE LEGITIMATE RESULTS OF THE
JULY 28, 2024, ELECTION ARE RESPECTED.
(a) Prohibition.--
(1) In general.--Beginning on the date of the enactment of
this Act, the following transactions are prohibited:
(A) Any petroleum-related transaction allowed--
(i) as a result of the Partial Agreement on
the Promotion of Political Rights and Electoral
Guarantees for All, agreed to by the regime of
Nicolas Maduro and the political opposition in
Venezuela in October 2023 (commonly known as
the ``Barbados Agreement''); or
(ii) pursuant to a license issued after
entry into that agreement relating to
petroleum-related transactions with Venezuela.
(B) Any transaction allowed under General License
No. 41 or General License No. 8M of the Office of
Foreign Assets Control of the Department of the
Treasury on the day before such date of enactment.
(2) Applicability.--The prohibitions under paragraph (1)
shall apply to the extent provided by law and regulations,
orders, directives, or licenses that may be issued pursuant to
this section.
(b) National Security Waiver.--The President may waive the
prohibitions under subsection (a) if the President--
(1) determines that the waiver is in the national security
interests of the United States; and
(2) submits in writing to the appropriate congressional
committees a report, which may include a classified annex, on
that determination and the reasons for the determination.
(c) Implementation; Penalties.--
(1) Implementation.--
(A) In general.--The Secretary of the Treasury, in
consultation with the Secretary of State, may take such
actions, including prescribing regulations, as are
necessary to implement this section.
(B) IEEPA authorities.--For purposes of
implementing this section, the Secretary of the
Treasury may exercise the authorities provided to the
President under sections 203 and 205 of the
International Emergency Economic Powers Act (50 U.S.C.
1702 and 1704).
(2) Penalties.--A person that violates, attempts to
violate, conspires to violate, or causes a violation of
subsection (a) or any regulation, license, directive, or order
issued to carry out that subsection shall be subject to the
penalties set forth in subsections (b) and (c) of section 206
of the International Emergency Economic Powers Act (50 U.S.C.
1705) to the same extent as a person that commits an unlawful
act described in subsection (a) of that section.
(d) Responsibility of Other Agencies.--All agencies of the United
States Government shall take all appropriate measures within their
authority to carry out the provisions of this section.
(e) Termination of Prohibition.--The prohibitions under subsection
(a) shall terminate on the date on which the President submits to
Congress a determination that the regime of Nicolas Maduro has
recognized the July 28, 2024, electoral victory of Edmundo Gonzalez and
relinquished power to the legitimately democratically elected
government in Venezuela or to a transitional government that includes
and is agreed to by the legitimately elected political opposition in
Venezuela.
(f) Definitions.--In this section:
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' means--
(A) the Committee on Banking, Housing, and Urban
Affairs and the Committee on Foreign Relations of the
Senate; and
(B) the Committee on Financial Services and the
Committee on Foreign Affairs of the House of
Representatives.
(2) United states person.--The term ``United States
person'' means--
(A) a United States citizen or alien lawfully
admitted for permanent residence to the United States;
(B) any entity organized under the laws of the
United States or any jurisdiction within the United
States (including a foreign branch of any such entity);
and
(C) any person physically located in the United
States.
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