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Ban on Oil and Gas Imports from Venezuela and Iran for Security Reasons.

This law immediately bans the importation of crude oil, petroleum products, and liquefied natural gas (LNG) originating from Venezuela and Iran. The goal is to protect US national security by cutting off funding to regimes allegedly supporting destabilizing activities. While primarily a foreign policy measure, these restrictions could indirectly affect domestic energy price stability, impacting household budgets.
Key points
Total prohibition on importing crude oil, petroleum products, and LNG from Venezuela and Iran.
The ban takes effect 15 days after enactment, justified by national security interests.
Potential impact on global energy markets, which might lead to fluctuations in fuel prices for consumers.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_S_3053
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2023-10-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Preempting Misguided Appeasement and Financing of Destabilizing Regimes Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3053.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-10-17.

What are the main provisions?

Key points include:

  • Total prohibition on importing crude oil, petroleum products, and LNG from Venezuela and Iran.
  • The ban takes effect 15 days after enactment, justified by national security interests.
  • Potential impact on global energy markets, which might lead to fluctuations in fuel prices for consumers.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Security