S.1025 - VERDAD Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Menendez, Robert [D-NJ] (Introduced 04/03/2019)|
|Committees:||Senate - Foreign Relations|
|Latest Action:||Senate - 06/03/2019 Placed on Senate Legislative Calendar under General Orders. Calendar No. 101. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1025 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (04/03/2019)
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 submit to Congress strategies for providing humanitarian aid to Venezuela and to Venezuelans in neighboring countries. The President shall direct U.S. representatives to the United Nations to prioritize U.N. efforts to provide humanitarian aid to Venezuela.
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 imposes various sanctions targeting the Maduro regime's ability to finance debt, trade gold, and use cryptocurrencies to evade U.S. sanctions.
The bill establishes a special envoy and task force for Venezuela to coordinate and oversee U.S. efforts regarding Venezuela.
The bill directs the State Department to
- work with nongovernmental organizations to strengthen democratic governance and defend human rights in Venezuela,
- investigate corruption and recover assets stolen from Venezuela,
- 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.