New Senate Bill Would Halt US Investment in Venezuela’s Energy Sector
Senate Majority Whip Dick Durbin, D-Ill., introduced a bill Sept. 9 that would end all U.S. petroleum cooperation and petroleum-related trade with Venezuela until that country's ruler, Nicolas Maduro, concedes he lost Venezuela's recent presidential election.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
“The Maduro regime clings to power using oil revenues dependent on U.S. involvement,” Durbin said. “Under this bill, that will end, and so will Maduro’s financial strength.”
The announcement came four days after a group of eight House Democrats urged House Speaker Mike Johnson, R-La., to bring up several Venezuela sanctions bills on the House floor (see 2409050019). The lawmakers cited “clear evidence” that opposition candidate Edmundo Gonzalez won the presidential election.