Sec. 605. Financial sanctions on Maduro regime debt
513 words·~2 min read·
/bill/116/s/1025/is/section-605A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Executive Order 13808 (82 Fed. Reg. 41155), which was signed on August 24, 2017, established sanctions against the Maduro regime’s ability to issue public debt. In this section and in sections 606 and 608: The term entity means a partnership, association, trust, joint venture, corporation, group, subgroup, or other organization. The term person means an individual or entity. The term United States person means any— United States citizen; alien lawfully admitted for permanent residence to the United States; entity organized under the laws of the United States or any jurisdiction within the United States (including a foreign branch of any such entity); and any person physically located in the United States.
The President may prohibit, in the United States or by a United States person— any transaction related to, provision of financing for, or other dealing in— debt instruments with a maturity of greater than 90 days issued by Petróleos de Venezuela, S.A., on or after the date of the enactment of this Act; debt instruments with a maturity of greater than 30 days or equity issued by the Maduro regime on or after the date of the enactment of this Act, excluding debt instruments issued by Petróleos de Venezuela, S.A., that are not covered under subparagraph (A); bonds issued by the Maduro regime before the date of the enactment of this Act; or dividend payments or other distributions of profits to the Maduro regime from any entity owned or controlled, directly or indirectly, by the Maduro regime; the direct or indirect purchase of securities from the Maduro regime, except for— securities qualifying as debt instruments issued by Petróleos de Venezuela, S.A., on or after the date of the enactment of this Act that are not described in paragraph (1)(A); and securities qualifying as debt instruments issued by the Maduro regime on or after the date of the enactment of this Act that are not described in paragraph (1)(B); any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate a prohibition under paragraph
(1)or (2); and any conspiracy to violate a prohibition under paragraph (1), (2), or (3). It is the sense of Congress that the President should waive the prohibitions described in subsection
(c)and in Executive Order 13808 if the related debt instruments, bonds, or securities have been approved or ratified by the democratically elected National Assembly of the Bolivarian Republic of Venezuela. The President may exercise all authorities described in sections 203 and 205 of the International Emergency Economic Powers Act ( 50 U.S.C. 1702 and 1704) to carry out this section. A person that violates, attempts to violate, conspires to violate, or causes a violation of this section or any regulation, license, or order issued to carry out this section shall be subject to the penalties set forth in subsections
(b)and
(c)of section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705 ) to the same extent as a person that commits an unlawful act described in subsection
(a)of that section.
Connectionstraces to 3
Traces to 3 documents
1 reference not yet in our index
- 82 FR 41155
Citation graph
cites case law
Sec. 605
Financial sanctions on Maduro regime debt
Fed. Reg.82 FR 41155
Cites 4Cited by 0 across 0 sources