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The REVOCAR Act prohibits U.S. persons and entities from investing in, trading with, or providing goods, services, or financing to Venezuela's energy sector, including state oil company Petroleos de Venezuela and the Maduro regime, until the results of the July 28, 2024 presidential election are respected. The prohibition takes effect immediately upon enactment and terminates on the earlier of the date the President certifies that Maduro has recognized the opposition's electoral victory and relinquished power, or December 31, 2027. The President may grant case-by-case waivers for up to 90 days at a time if determined vital to U.S. national security, with detailed reporting requirements to Congress.
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