Prohibit Venezuelan Oil Importation Act
This bill requires the President to prohibit the importation of petroleum products from Venezuela. Petroleum product means crude oil, residual fuel oil, or any refined petroleum product, including natural gas liquid product.
The President may modify or remove the prohibition for some or all petroleum products only if specified conditions are met. Among these conditions, the President must (1) reimplement and maintain sanctions imposed against Venezuela's state-owned oil company, Petroleos de Venezuela, S.A.; (2) renew the authorization of the Keystone XL pipeline to import oil from Canada; and (3) resume oil and gas leasing on federal land.
Additionally, the bill authorizes the President to use appropriate authorities to impose civil or criminal penalties as necessary to enforce the prohibition.