Summary: S.1025 — 116th Congress (2019-2020)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to Senate (06/03/2019)

Venezuela Emergency Relief, Democracy Assistance, and Development Act of 2019 or the VERDAD Act of 2019

This bill directs the President to take various actions to address the political situation in Venezuela. (The United States does not recognize Nicolas Maduro as Venezuela's President due to reports of widespread fraud during his election, recognizing instead National Assembly President Juan Guaido.)

The Department of State shall provide humanitarian aid to Venezuela and to Venezuelans in neighboring countries.

The bill imposes sanctions on foreign persons responsible for or complicit in corruption or activity undermining Venezuela's democratic institutions. Sanctions include barring entry into the United States and various financial restrictions.

The bill also (1) authorizes or imposes various sanctions targeting the Maduro regime's ability to finance debt, trade gold, and use cryptocurrencies; and (2) imposes visa-blocking sanctions on aliens acting on behalf of Russia to support Maduro regime security forces.

The bill directs the State Department to

  • work with nongovernmental organizations to strengthen democratic governance and defend human rights in Venezuela,
  • work with foreign governments to investigate corruption and recover assets stolen from Venezuela, and
  • offer to help other countries establish legislative frameworks to impose sanctions on Maduro regime officials.

The President shall engage with multilateral development banks to assist in rebuilding Venezuela's economy and energy infrastructure.

The bill directs the President to prevent Russia's government-controlled oil company Rosneft from acquiring control of critical U.S. energy infrastructure, including assets belonging to Venezuela's state-owned oil company, Petroleos de Venezuela, S.A.