VALOR Act: Strengthening Sanctions and Support for Venezuelan Democracy
This Act reinforces US policy aimed at a peaceful transition to democracy in Venezuela. It introduces strict new financial sanctions, including prohibiting US persons from dealing in Venezuelan debt and regime-issued cryptocurrencies, directly impacting American businesses and investors. Concurrently, the law authorizes support for pro-democracy groups and prepares a comprehensive plan for humanitarian and development aid to be deployed once a democratic government is established.
Key points
New Financial Restrictions: US citizens and companies are prohibited from trading in Venezuelan debt (including PDVSA) and cryptocurrencies issued by the Maduro regime, with severe penalties for violations.
Asset Blocking: All property and interests in property of the Government of Venezuela and its supporters located in the US or controlled by US persons are blocked.
Humanitarian and Democratic Support: The US will financially support pro-democracy groups and humanitarian organizations in Venezuela, while preparing a large aid package (food, medicine, development) for the post-transition period.
Conditions for Sanctions Removal: Sanctions will only be lifted after the US President determines that a democratically elected government is in power, based on criteria like free elections, respect for human rights, and the release of political prisoners.
Status:
Expired
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