REVOCAR Act of 2025
REVOCAR Act of 2025
Plain Language Summary
# REVOCAR Act of 2025 Summary **What It Would Do:** The REVOCAR Act would ban U.S. individuals and companies from investing in, trading with, or doing business in Venezuela's energy sector. This includes prohibiting financial support, goods, or services to Venezuela's state-owned oil company (PDVSA) and the government of Nicolas Maduro. The restrictions would last until December 31, 2027, or earlier if the President confirms that Maduro's government has acknowledged the opposition's claimed electoral victory from July 2024 and handed over power to the democratically elected government. **Who It Affects:** The bill primarily impacts U.S. oil companies, financial institutions, and investors with ties to Venezuelan energy operations.
It also affects the Venezuelan government and state oil company by cutting them off from American capital and business partnerships. Indirectly, it may influence global oil markets and energy prices, since Venezuela is a major oil producer. **Current Status:** The bill was introduced by Rep. Debbie Wasserman Schultz (D-FL) in the 119th Congress and is currently in committee, meaning it has not yet been voted on by the full House of Representatives. The legislation is framed as a human rights measure intended to pressure the Maduro government regarding electoral practices and governance.
CRS Official Summary
Revoke Exemptions for Venezuelan Oil to Curb Autocratic Repression Act of 2025 or the REVOCAR Act of 2025This bill prohibits U.S. investment in Venezuela's energy sector.Specifically, the bill prohibits any transaction by a U.S. person (individual or entity) to invest, trade, or operate within Venezuela's energy sector and any transaction that attempts to evade such prohibition. This prohibition includes the provision of goods, services, or finance to (1) Venezuela's state-owned oil and natural gas company (Petroleos de Venezuela, S.A.), its subsidiaries, representatives, or related companies; or (2) the regime of Nicolas Maduro or any nondemocratic successor government in Venezuela. The prohibitions of this bill terminate on the earlier of December 31, 2027, or the date the President submits a determination to Congress that the Maduro regime has recognized the July 28, 2024, electoral victory of Edmundo Gonzalez and relinquished power to the democratically elected government.The President may waive these prohibitions on a case-by-case basis for not more than 90 days after determining such a waiver is vital to U.S. national security interests and submitting a report to Congress. Such waivers may be renewed.
Latest Action
Referred to the House Committee on Foreign Affairs.