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.

“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.