North Miami-Dade News

Western Hemisphere Subcommittee Chairwoman María Elvira Salazar and Representative Debbie Wasserman Schultz have introduced the bipartisan Revoke Exemptions for Venezuelan Oil to Curb Autocratic Repression (REVOCAR) Act. This legislation aims to halt both new and existing licenses for companies engaging with Venezuela's state-owned oil company, PDVSA.

Nicolás Maduro, who claimed victory over opposition candidate Edmundo González Urrutia despite González winning nearly 70% of the vote, took the oath of office for a third term on January 10, 2025. The REVOCAR Act is designed to prevent Maduro from maintaining power unlawfully.

“Oil exports are the lifeline of the socialist Maduro regime. They are what fuels the repressive apparatus being used to deny the democratic voice of the Venezuelan people,” stated Chairwoman Salazar. She emphasized that targeting Maduro’s financial resources would support those opposing his regime. “Maduro’s time is up, he needs to go,” she added.

Ahead of the inauguration date, Salazar criticized Maduro for ignoring voters' wishes and condemned an attempted kidnapping of opposition leader María Corina Machado during protests on January 9. In a hearing last September, she criticized several U.S. and European oil companies for their business dealings with PDVSA, which provide essential funds for Maduro's government.

The REVOCAR Act intends to cut off these financial sources by banning American citizens and companies from engaging with PDVSA through eliminating General Licenses issued by the Treasury Department’s Office of Foreign Assets Control (OFAC). These prohibitions would remain until a peaceful transfer of power to Edmundo González Urrutia occurs or three years pass.

“While the opposition is under siege and Maduro plans to inaugurate himself tomorrow – despite a clear election loss – American efforts to support democracy and punish repression have been far too slow," said Rep. Wasserman Schultz. She argued that revoking these licenses is crucial in opposing Maduro's actions. "We cannot afford to cave to fossil fuel companies’ investors at the expense of democracy, dignity and justice,” she concluded.