US HB328

Prohibits U.S. persons and U.S.-controlled entities from investing, trading, or operating in Venezuela's energy sector, including transactions with Petroleos de Venezuela, S.A. (PDVSA) and its subsidiaries, or the Maduro regime

Responds to the July 28, 2024 Venezuelan presidential election, where opposition candidate Edmundo Gonzalez reportedly received more than two-thirds of votes but the Maduro regime refused to recognize the results and subsequently arrested thousands of citizens

Terminates automatically on December 31, 2027, or earlier if the President certifies that the Maduro regime has recognized Gonzalez's electoral victory and relinquished power to the democratically elected government

Allows the President to grant case-by-case waivers for up to 90 days (renewable) if determined vital to U.S. national security interests, with required reporting to congressional committees within 30 days

Violations subject to penalties under the International Emergency Economic Powers Act (IEEPA), with the Secretary of the Treasury authorized to implement regulations in consultation with the Secretary of State