The BOLIVAR Act prohibits the federal government from entering into contracts with companies or individuals that conduct significant business operations with Venezuela's Maduro regime, which the U.S. does not recognize as Venezuela's legitimate government. The law applies to all executive agencies and covers a three-year period from the bill's enactment. However, the Secretary of State can grant exceptions for humanitarian assistance, disaster relief, life-saving measures, noncombatant evacuations, U.S. national security interests, or support for American diplomatic missions and government activities in Venezuela. The Secretary of State can also issue waivers if deemed in the national interest and must notify Congress of any exceptions granted. The law does not apply to entities with valid licenses from the Office of Foreign Assets Control or those supporting U.S. Government operations in the country.
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