From our Bureau of Extremely Sensible Legislation with some assistance from our Bureau of Potentially Lethal Actions Against the Latrine American Triangle of Doom
If this law is passed, Venenozuela will see a drastic reduction in income. And that’s the whole point of this legislation, which has the removal of Nicolas Maduro from office as its aim. This law would only apply to American imports, however, so even if it is passed, it might not result in the collapse of the Castronoid Maduro dictatorship. But it will certainly hurt it where it counts the most.
From Congresswoman María Elvira Salazar’s website:
Today, Western Hemisphere Subcommittee Chairwoman María Elvira Salazar (R-FL) and Rep. Debbie Wasserman Schultz (D-FL) introduced the Revoke Exemptions for Venezuelan Oil to Curb Autocratic Repression (REVOCAR) Act. The bill is the House of Representatives companion to legislation introduced in the Senate by U.S. Senator Dick Durbin (D-IL).
After the presidential election held in Venezuela on July 28, 2024, Nicolás Maduro and his regime have unleashed a torrent of repression and violence towards supporters of María Corina Machado and Edmundo González, the leader of the opposition and winner of the election, respectively. Since then, the Biden-Harris Administration renewed U.S. oil company Chevron’s license to operate in Venezuela just 33 days after the stolen election, undermining the United States’ ability to adequately pressure Maduro to concede his defeat and leave power.
The REVOCAR Act will rescind these licenses and ensure American and European companies can no longer finance Maduro’s repression and hasten the democratic transition process the Venezuelan people voted for.
“It’s long past time to cut off the flow of money that the Maduro Dictatorship uses to oppress their people,” said Chairwoman Salazar. “We are sending a loud and clear message that if Maduro stays, there will be no oil money for the Venezuelan regime.”
At a recent hearing, Chairwoman Salazar condemned several oil companies in the United States and Europe for continuing to conduct business with PDVSA, Venezuela’s state-owned oil company and financial lifeline for the Maduro regime, even after the results of the July 28 presidential election. Salazar noted that companies like Chevron, Repsol, Eni, and Maurel et Prom are profiting off the continued repression of the Venezuelan opposition by operating with PDVSA.
The REVOCAR Act ends Maduro’s financial lifeline by prohibiting American citizens and companies from engaging with PDVSA by eliminating General Licenses issued by the Treasury Department’s Office of Foreign Assets Control (OFAC). These licenses are necessary to do business with the Maduro regime. The prohibitions would extend for three years or until the President certifies that a peaceful, democratic transfer of power to Venezuelan president-elect Edmundo González Urrutia has taken place.
“Maduro’s brutal regime refuses to honor the undeniable election results, despite clear evidence proving his loss. Rescinding these special licenses, which exclusively serve to subsidize the regime’s crony corruption, violent repression, and flagrant human rights abuses, must be part of our international effort to reject Maduro’s election theft,” said Rep. Wasserman Schultz. “If we truly intend to see through a peaceful transition of power and honor the will of the Venezuelan people, we cannot afford to indulge fossil fuel companies’ investors at the expense of democracy.”
“Despite the sweeping and clear opposition victory in the recent Venezuelan presidential election, the Maduro regime refused to release results, announced that it had won instead, and arbitrarily arrested thousands of opposition supporters,” said Senator Durbin. “We must put an end to the outright theft of the Venezuelan voters’ overwhelming choice for a better future. I’m pleased that Reps. Wasserman Schultz and Salazar are introducing the House bill to terminate all U.S. petroleum cooperation and related trade with Venezuela until the legitimate results of the recent election are respected. The Maduro regime clings to power using oil revenues dependent on U.S. involvement. Under our bill, that will end, and so will Maduro’s financial strength.”
To read the full text of the bill, click here.