Bolivar Act

Awaiting approval by the US Senate, the bipartisan bill titled “Banning Operations and Leases with the Illegitimate Venezuelan Authoritarian Regime Act,” known by its forced acronym “BOLIVAR Act,” represents a milestone in the institutionalization of illegal sanctions against Venezuela. This law aims to—under a legislative and bipartisan framework—perpetuating the executive orders that have operated as the core of the economic and financial coercion policy against Venezuela over the past ten years. Within the law, the definition of the term “person” as a legal object establishes an expansion of the scope of sanctions, covering everything from individuals and private entities to governmental bodies and their extensions, thereby creating a vast catalog of potential targets on an international scale.