[Congressional Record Volume 170, Number 139 (Monday, September 9, 2024)]
[Senate]
[Page S5893]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. DURBIN:
  S. 4993. 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; to the Committee on 
Banking, Housing, and Urban Affairs.
  Mr. DURBIN. Madam President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  Their being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 4993

       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 2024''.

     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 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.
       (e) 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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