Bill > HR7819

This bill, titled the "Venezuela Oil Proceeds Transparency Act," mandates that the Comptroller General of the United States, an independent government official responsible for auditing federal agencies, conduct a thorough audit of a United States-Venezuela energy deal announced on January 6, 2026. This deal involves the U.S. marketing and selling Venezuelan oil, with proceeds to be deposited into "U.S.-controlled" accounts, as described in a Department of Energy fact sheet. The bill's findings highlight that this arrangement includes engaging commodity marketers and banks, settling all proceeds in U.S.-controlled foreign bank accounts to ensure legitimacy, and disbursing funds for the benefit of both American and Venezuelan people at the U.S. government's discretion. The bill also notes that the U.S. is selectively easing sanctions and issuing new licenses for Venezuelan oil transport and sales, and that while an audit process was mentioned by the Secretary of State, its specifics were not finalized. The Comptroller General must initiate this audit within 30 days of the bill's enactment, provide an interim briefing on preliminary findings and risks to relevant congressional committees within 30 days of completing the audit, notify Congress of any unreasonable delays or denials of information, and submit a comprehensive report with findings and recommendations to Congress within 90 days of completing the audit, making it publicly available in an unclassified form, potentially with a classified annex.