VALOR Act of 2024

The VALOR Act of 2024 establishes specific criteria for determining when a democratically elected government exists in Venezuela, requiring the President to submit such determinations to Congress. The bill imposes sanctions on the Maduro regime and blocks transactions involving Venezuelan government debt instruments, cryptocurrency, and property, while requiring regular reports on sanctions implementation and foreign entities doing business with the Maduro regime. It outlines a plan for U.S. assistance to Venezuela once a democratically elected government is recognized, including humanitarian aid and support for democratic institutions, with the President required to submit determinations to Congress when such a government is in place. The act affects U.S. engagement with international financial institutions regarding Venezuela and sets conditions for lifting sanctions as democratic progress is made.