II 

118TH CONGRESS 

2D SESSION S. 4993 

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 

SEPTEMBER 9, 2024 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Halt All United States 

5 Investments in Venezuela’s Energy Sector Act of 2024’’. 

6 SEC. 2. FINDINGS. 

7 Congress makes the following findings: 

8 (1) On July 28, 2024, more than 10,000,000 

9 citizens of Venezuela voted in a presidential election 


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1 in which meticulously documented and publicized 

2 data from credible election monitors clearly and con3 vincingly showed that opposition candidate Edmundo 

4 Gonzalez received more than two-thirds of the votes 

5 against the regime of Nicolas Maduro. 

6 (2) The Maduro regime has refused to respect 

7 the overwhelming choice of the people of Venezuela 

8 and subsequently arrested and abused thousands of 

9 innocent citizens of Venezuela, including children, 

10 for peaceful political participation. 

11 SEC. 3. PROHIBITION ON INVESTMENT BY UNITED STATES 

12 PERSONS IN ENERGY SECTOR OF VENEZUELA 

13 UNTIL THE LEGITIMATE RESULTS OF THE 

14 JULY 28, 2024, ELECTION ARE RESPECTED. 

15 (a) PROHIBITION.— 

16 (1) IN GENERAL.—Beginning on the date of the 

17 enactment of this Act, the following transactions are 

18 prohibited: 

19 (A) Any transaction by a United States 

20 person, or an entity owned or controlled by a 

21 United States person, to invest, trade, or oper22 ate within the energy sector of Venezuela, in23 cluding the provision of goods, services, or fi24 nance to— 


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1 (i) Petroleos de Venezuela, S.A., or 

2 subsidiaries, representatives, or related 

3 companies of Petroleos de Venezuela, S.A.; 

4 or 

5 (ii) the regime of Nicolas Maduro or 

6 any nondemocratic successor government 

7 in Venezuela. 

8 (B) Any transaction that evades or avoids, 

9 has the purpose of evading or avoiding, causes 

10 a violation of, or attempts to violate the prohi11 bition under subparagraph (A). 

12 (2) APPLICABILITY.—The prohibitions under 

13 paragraph (1) shall apply— 

14 (A) to the extent provided by law and reg15 ulations, orders, directives, or licenses that may 

16 be issued pursuant to this section; and 

17 (B) notwithstanding any contract entered 

18 into or any license or permit granted before the 

19 date of the enactment of this Act. 

20 (b) IMPLEMENTATION; PENALTIES.— 

21 (1) IMPLEMENTATION.— 

22 (A) IN GENERAL.—The Secretary of the 

23 Treasury, in consultation with the Secretary of 

24 State, may take such actions, including preVerDate Sep 11 2014 03:47 Sep 12, 2024 Jkt 049200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S4993.IS S4993

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1 scribing regulations, as are necessary to imple2 ment this section. 

3 (B) IEEPA AUTHORITIES.—The Secretary 

4 of the Treasury may exercise the authorities 

5 provided to the President under sections 203 

6 and 205 of the International Emergency Eco7 nomic Powers Act (50 U.S.C. 1702 and 1704) 

8 to the extent necessary to carry out this section. 

9 (2) PENALTIES.—A person that violates, at10 tempts to violate, conspires to violate, or causes a 

11 violation of subsection (a) or any regulation, license, 

12 directive, or order issued to carry out that sub13 section shall be subject to the penalties set forth in 

14 subsections (b) and (c) of section 206 of the Inter15 national Emergency Economic Powers Act (50 

16 U.S.C. 1705) to the same extent as a person that 

17 commits an unlawful act described in subsection (a) 

18 of that section. 

19 (c) RESPONSIBILITY OF OTHER AGENCIES.—All 

20 agencies of the United States Government shall take all 

21 appropriate measures within their authority to carry out 

22 the provisions of this section. 

23 (d) TERMINATION OF PROHIBITION.—The prohibi24 tions under subsection (a) shall terminate on the date on 

25 which the President submits to Congress a determination 


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1 that the regime of Nicolas Maduro has recognized the July 

2 28, 2024, electoral victory of Edmundo Gonzalez and re3 linquished power to the legitimately democratically elected 

4 government in Venezuela. 

5 (e) UNITED STATES PERSON DEFINED.—In this sec6 tion, the term ‘‘United States person’’ means— 

7 (1) a United States citizen or alien lawfully ad8 mitted for permanent residence to the United States; 

9 (2) any entity organized under the laws of the 

10 United States or any jurisdiction within the United 

11 States (including a foreign branch of any such enti12 ty); and 

13 (3) any person physically located in the United 

14 States. 

Æ 


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