REVOCAR Act

HR 9995, the REVOCAR Act, bans U.S. persons (including companies and individuals) from investing in or operating within Venezuela's energy sector, specifically targeting transactions involving Petroleos de Venezuela, S.A. (PDVSA) or the Maduro regime. The prohibition applies until the Maduro government officially recognizes the results of Venezuela's July 28, 2024, presidential election - where opposition candidate Edmundo Gonzalez reportedly won - and transfers power, or until December 31, 2027, whichever comes first. The bill requires the President to report to Congress before granting temporary waivers (up to 90 days) for national security reasons, detailing the rationale and potential impacts on Venezuela's democratic transition. It also authorizes penalties for violations under existing economic sanctions laws.