S. 3838 — Venezuela Oil Proceeds Transparency Act

This section states congressional findings concerning a United States-Venezuela energy deal announced by President Trump on January 6, 2026, under which the United States markets and sells Venezuelan oil with proceeds deposited into U.S.-controlled accounts at foreign banks for legitimacy and discretionary disbursement to benefit the American and Venezuelan people indefinitely. The findings further note the federal government's engagement of commodity marketers and banks to execute sales; selective sanctions rollbacks and Office of Foreign Assets Control licenses to enable Venezuelan oil transport and sales; and Secretary of State Marco Rubio's January 28, 2026, testimony on plans for, but lack of finalization of, an audit process for a related account in Qatar.

This section directs the Comptroller General of the United States to initiate, not later than 30 days after the date of enactment, an audit of the United States-Venezuela energy deal announced on January 6, 2026, including implementation activities of the Departments of State, Energy, and the Treasury, and other involved federal agencies, employees, contractors, or entities. It further requires (1) an interim briefing for chairs and ranking members of committees and subcommittees of jurisdiction in the House and Senate, not later than 30 days after audit completion, on preliminary findings, scope, and risks of fraud, abuse, or conflicts of interest; (2) notification to such leaders as soon as practicable of any unreasonable delay or denial of information access; and (3) a report to Congress, not later than 90 days after audit completion, containing findings, conclusions, and recommendations for legislative or administrative action, to be submitted in unclassified form (with a possible classified annex) to specified House and Senate leaders and available to any requesting Member of Congress.