VALOR Act of 2024

The VALOR Act of 2024 establishes specific criteria for determining when a democratically elected government is in power in Venezuela, requiring free and fair elections with international observers, respect for human rights, release of political prisoners, and restoration of democratic institutions. The bill authorizes sanctions against the Maduro regime, including financial restrictions on debt instruments, cryptocurrency transactions, and blocking property of the Venezuelan government. It creates mechanisms for the U.S. to provide humanitarian and democracy-building assistance through independent NGOs once a democratically elected government is recognized, with safeguards to ensure aid reaches the people of Venezuela. The bill requires regular reporting to Congress on sanctions implementation, assistance programs, and foreign entities doing business with the Maduro regime.