An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

United States person

A U.S. citizen, a permanent resident of the U.S., any company or entity organized under U.S. law (including its foreign branches), or any person physically located in the U.S.

Energy sector of Venezuela

The industry in Venezuela that deals with oil, natural gas, and other energy resources, including exploration, production, processing, and distribution.

Petroleos de Venezuela, S.A. (PDVSA)

Venezuela's state-owned oil and natural gas company, which is a major part of the country's economy.

International Emergency Economic Powers Act (IEEPA)

A U.S. law that grants the President broad authority to regulate international commerce after declaring a national emergency, often used to impose sanctions.

Appropriate congressional committees

Specific committees in the U.S. House of Representatives and Senate that deal with foreign affairs and appropriations, to whom reports must be submitted.

Waiver authority

The power given to the President to temporarily set aside or not enforce certain prohibitions or sanctions under specific conditions, such as for national security.