“A bill to prohibit the United States Government from funding Venezuela's oil and petroleum infrastructure, and for other purposes.”
No CRS summary available for this bill.
This section defines the term “appropriate congressional committees” to mean (1) the Committee on Foreign Relations of the Senate; (2) the Committee on Appropriations of the Senate; (3) the Committee on the Budget of the Senate; (4) the Committee on Foreign Affairs of the House of Representatives; (5) the Committee on Appropriations of the House of Representatives; and (6) the Committee on the Budget of the House of Representatives.
This section prohibits the use of federal funds by any U.S. department, agency, or person acting on behalf of the United States to finance, subsidize, insure, guarantee, contract for, or otherwise support the development, maintenance, or expansion of oil infrastructure or the petroleum sector in Venezuela. The prohibition covers (1) construction, installation, manufacture, development, modernization, repair, or permanent improvement of oil or gas infrastructure; (2) purchase of real property; (3) insurance costs, loan guarantees, tax incentives, and royalty relief; (4) payments to individuals or domestic, international, or multinational corporations; and (5) advocacy, promotion, or support by U.S. officers or employees, including at international financial institutions, multilateral organizations, or diplomatic forums. The prohibition does not apply to expenditures explicitly authorized by an Act of Congress enacted after the date of this Act's enactment.
This section requires the Secretary of State to submit to the appropriate congressional committees, not later than 180 days after the date of enactment of this Act and annually thereafter, a report that (1) describes any expenditures or activities related to Venezuela’s oil infrastructure or petroleum sector, and (2) certifies compliance with this Act.