The ‘Bolivar Act’ To Become the New U.S. Weapon Against Venezuela
U.S. House, Nov, 18, 2024. X/ @SACPolitical
November 22, 2024 Hour: 1:12 pm
It prohibits agencies from entering into contracts with any entity that maintains relationships with the Venezuelan government.
During the past week, the U.S. has intensified its unconventional aggressions against Venezuela. Acting in blatant disregard for the Bolivarian nation’s sovereignty, Secretary of State Antony Blinken recognized far-right politician Edmundo Gonzalez as the supposed president of Venezuela. But that’s not all.
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Currently, both the Democratic and Republican parties are pushing for the approval of the “Banning Operations and Leases with the Illegitimate Venezuelan Authoritarian Regime Act” (Bolivar Act). Commonly referred to as the “Bolivar Act,” this bill was passed by the U.S. House of Representatives on November 18. However, before it becomes law, it must secure approval from the Senate.
What Does the Bolivar Act Establish?
The Bolivar Act prohibits U.S. agencies from entering into contracts with any entity that maintains significant commercial relationships with the Venezuelan government, except for those agencies approved by the Secretary of State for reasons of “national interest.”
This provision expands the scope of existing sanctions, introducing greater uncertainty for international actors conducting operations in Venezuela. The term “significant commercial operations” is not clearly defined in the bill, leaving the interpretation of its scope to the discretion of the State Department and the Office of Management and Budget (OMB). This legal ambiguity could be used as a tool to adjust sanctions according to U.S. strategic interests.
To increase discretion in applying unilateral U.S. sanctions, the Bolivar Act also establishes exceptions for licenses issued by the Office of Foreign Assets Control (OFAC). These licenses allow transnational companies such as Chevron and Repsol to continue operating in Venezuela.
Once the discretion to determine which companies or individuals are subject to sanctions is granted, the State Department could permit flexibility based on the strategic priorities of the incoming Trump administration.
Marco Rubio, the next head of the State Department, has been a fervent advocate for stricter sanctions against Venezuela and Cuba, which has allowed him to position himself as the spearhead against progressive Latin American governments.
However, the Bolivar Act excludes activities related to humanitarian assistance and intelligence operations, which have historically been used to interfere in the internal affairs of Latin American countries by funding opposition media and NGOs.
What Does the Bolivar Act Imply?
In an interview with Truth Mission, economist Francisco Rodriguez stated that the Bolivar Act is more symbolic than effective, as it does not introduce new sanctions but reinforces “a firm stance” against Venezuelan President Nicolas Maduro.
The practical impact of the legislation, however, could be significant. By converting executive provisions into legislative norms, the Bolivar Act limits the U.S. Executive Branch’s ability to modify or eliminate sanctions in the future.
In response, the Venezuelan National Assembly approved, in its first discussion, the Simon Bolivar Special Law Against the Blockade and for the Defense of the Country. This instrument aims to protect Venezuelan interests against U.S. economic aggression.
The Venezuelan law includes provisions for the permanent political disqualification of citizens who promote foreign actions against Venezuela. It also proposes the recovery of assets from opposition figures who have conspired against the Bolivarian nation from abroad.
teleSUR/ JF Source: teleSUR