119-hr328

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 328 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 328

 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 HOUSE OF REPRESENTATIVES

 January 9, 2025

 Ms. Wasserman Schultz (for herself and Ms. Salazar) introduced the 
 following bill; which was referred to the Committee on Foreign 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 ``Revoke Exemptions for Venezuelan Oil 
to Curb Autocratic Repression Act of 2025'' or the ``REVOCAR 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.

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 transaction by a United States person, or 
 an entity owned or controlled by a United States 
 person, to invest, trade, or operate within the energy 
 sector of Venezuela, including the provision of goods, 
 services, or finance to--
            (i) Petroleos de Venezuela, S.A., or 
 subsidiaries, representatives, or related 
 companies of Petroleos de Venezuela, S.A.; or
            (ii) the regime of Nicolas Maduro or any 
 nondemocratic successor government in 
 Venezuela.
        (B) Any transaction that evades or avoids, has the 
 purpose of evading or avoiding, causes a violation of, 
 or attempts to violate the prohibition under 
 subparagraph
        (A) .

    (2) Applicability.--The prohibitions under paragraph

    (1) shall apply--
        (A) to the extent provided by law and regulations, 
 orders, directives, or licenses that may be issued 
 pursuant to this section; and
        (B) notwithstanding any contract entered into or 
 any license or permit granted before the date of the 
 enactment of this Act.

    (b) 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.--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) to the extent necessary to carry out 
 this section.

    (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.
            (c) 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.
            (d) Termination of Prohibition.--The prohibitions under subsection

    (a) shall terminate on the earlier of--

    (1) 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

    (2) December 31, 2027.

    (e) Waiver Authority.--

    (1) In general.--The President may waive, on a case-by-case 
 basis and for a period of not more than 90 days, the 
 prohibitions under subsection

    (a) not less than 30 days after 
 the President determines and reports to the appropriate 
 congressional committees that it is vital to the national 
 security interests of the United States to waive such 
 sanctions.

    (2) Renewal of waivers.--The President may, on a case-by-
 case basis, renew a waiver under paragraph

    (1) for an 
 additional period of not more than 90 days if, not later than 
 15 days before that waiver expires, the President makes the 
 determination and submits to the appropriate congressional 
 committees a report described in paragraph

    (1) .

    (3) Content of waiver reports.--Each report submitted under 
 this subsection in connection with a waiver of the prohibitions 
 under subsection

    (a) , or the renewal of such a waiver, shall 
 include--
        (A) a specific and detailed rationale for the 
 determination that the waiver is vital to the national 
 security interests of the United States;
        (B) a description of the transaction or type of 
 transaction prohibited by this Act that will be 
 permitted, including a list of prohibited foreign 
 entities that are determined to be involved in the 
 transaction or type of transaction;
            (C) an explanation of any efforts made by the 
 United States to restrict financial flows to the regime 
 of Nicolas Maduro in order to constrain his ability to 
 repress the Venezuelan people; and
            (D) an assessment of the impact of waiving the 
 prohibitions under subsection

    (a) on--
            (i) the probability of achieving a 
 democratic transition in Venezuela as described 
 in subsection
            (d) (1) ;
            (ii) the financial resources available to 
 the regime of Nicolas Maduro or any 
 nondemocratic successor government in 
 Venezuela; and
            (iii) the ability of the regime of Nicolas 
 Maduro or any nondemocratic successor 
 government in Venezuela to violate human 
 rights, engage in repression, or threaten the 
 interests of the United States.

    (4) Appropriate congressional committees defined.--In this 
 subsection, the term ``appropriate congressional committees'' 
 means--
        (A) the Committee on Foreign Affairs of the House 
 of Representatives;
        (B) the Committee on Foreign Relations of the 
 Senate;
            (C) the Committee on Appropriations of the House of 
 Representatives; and
            (D) the Committee on Appropriations of the Senate.

    (f) United States Person Defined.--In this section, the term 
``United States person'' means--

    (1) a United States citizen or alien lawfully admitted for 
 permanent residence to the United States;

    (2) 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

    (3) any person physically located in the United States.
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