I 
118TH CONGRESS 
2D SESSION 
H. R. 9995 
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 
OCTOBER 15, 2024 
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 Representa-
tives 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 
2024’’ or the ‘‘REVOCAR Act’’. 
SEC. 2. FINDINGS. 
Congress makes the following findings: 
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(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 con-
vincingly 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 oper-
ate within the energy sector of Venezuela, in-
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cluding the provision of goods, services, or fi-
nance 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 prohi-
bition under subparagraph (A). 
(2) APPLICABILITY.—The prohibitions under 
paragraph (1) shall apply— 
(A) to the extent provided by law and reg-
ulations, 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 
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State, may take such actions, including pre-
scribing regulations, as are necessary to imple-
ment 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 Eco-
nomic Powers Act (50 U.S.C. 1702 and 1704) 
to the extent necessary to carry out this section. 
(2) PENALTIES.—A person that violates, at-
tempts to violate, conspires to violate, or causes a 
violation of subsection (a) or any regulation, license, 
directive, or order issued to carry out that sub-
section shall be subject to the penalties set forth in 
subsections (b) and (c) of section 206 of the Inter-
national 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. 
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(d) TERMINATION OF PROHIBITION.—The prohibi-
tions 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 relin-
quished 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 com-
mittees that it is vital to the national security inter-
ests 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 determina-
tion and submits to the appropriate congressional 
committees a report described in paragraph (1). 
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(3) CONTENT OF WAIVER REPORTS.—Each re-
port 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 na-
tional 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 for-
eign 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 con-
strain his ability to repress the Venezuelan peo-
ple; 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 de-
scribed in subsection (d)(1); 
(ii) the financial resources available to 
the regime of Nicolas Maduro or any non-
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democratic successor government in Ven-
ezuela; and 
(iii) the ability of the regime of Nico-
las Maduro or any nondemocratic suc-
cessor government in Venezuela to violate 
human rights, engage in repression, or 
threaten the interests of the United States. 
(4) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES DEFINED.—In this subsection, the term ‘‘ap-
propriate 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 sec-
tion, the term ‘‘United States person’’ means— 
(1) a United States citizen or alien lawfully ad-
mitted for permanent residence to the United States; 
(2) any entity organized under the laws of the 
United States or any jurisdiction within the United 
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States (including a foreign branch of any such enti-
ty); and 
(3) any person physically located in the United 
States. 
Æ 
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