---
kind: "section"
citation: "22 U.S.C. § 9752"
title: "22"
title_heading: "Foreign Relations and Intercourse"
number: "9752"
heading: "Concerns over PDVSA transactions with Rosneft"
release: "119-102"
url: "https://uscodex.org/usc/22/9752"
units:
  - "Chapter 104 — Venezuela Assistance"
  - "Subchapter VI — Restoring the Rule of Law in Venezuela"
---

# §9752. Concerns over PDVSA transactions with Rosneft

- (a) **Findings—** Congress makes the following findings:
  - (1) In late 2016, Venezuelan state-owned oil company Petróleos de Venezuela, S.A. (referred to in this section as “PDVSA”), through a no compete transaction, secured a loan from Russian government-controlled oil company Rosneft, using 49.9 percent of PDVSA’s American subsidiary, CITGO Petroleum [Corporation](/usc/22/7702.md?p=6), including its assets in the [United States](/usc/22/1395.md?p=a-1), as collateral. As a result of this transaction, 100 percent of CITGO is held as collateral by PDVSA’s creditors.
  - (2) CITGO, a wholly owned subsidiary of PDVSA, is engaged in interstate commerce and owns and controls critical energy infrastructure in 19 States of the [United States](/usc/22/1395.md?p=a-1), including an extensive network of pipelines, 48 terminals, and 3 refineries, with a combined oil refining capacity of 749,000 barrels per day. CITGO’s refinery in Lake Charles, Louisiana, is the sixth largest refinery in the [United States](/usc/22/1395.md?p=a-1).
  - (3) The Department of the Treasury imposed sanctions on Rosneft, which is controlled by the Government of the Russian Federation, and its Executive [Chairman](/usc/22/262r.md?p=c-1), Igor Sechin, following Russia’s military invasion of Ukraine and its illegal annexation of Crimea in 2014.
  - (4) The Department of Homeland Security has designated the energy sector as critical to [United States](/usc/22/1395.md?p=a-1) infrastructure.
  - (5) The growing economic crisis in Venezuela raises the probability that the Maduro regime and PDVSA will default on their international debt obligations, resulting in a scenario in which Rosneft could come into control of CITGO’s [United States](/usc/22/1395.md?p=a-1) energy infrastructure holdings.
- (b) **Sense of Congress—** It is the sense of Congress that—
  - (1) control of critical [United States](/usc/22/1395.md?p=a-1) energy infrastructure by Rosneft, a Russian government-controlled entity currently under [United States](/usc/22/1395.md?p=a-1) sanctions that is led by Igor Sechin, who is also under [United States](/usc/22/1395.md?p=a-1) sanctions and is a close associate of Vladimir Putin, would pose a significant risk to [United States](/usc/22/1395.md?p=a-1) national security and energy security; and
  - (2) a default by PDVSA on its loan from Rosneft, resulting in Rosneft coming into possession of PDVSA’s [United States](/usc/22/1395.md?p=a-1) CITGO assets, would warrant careful consideration by the Committee on [Foreign](/usc/22/3146.md?p=1) Investment in the [United States](/usc/22/1395.md?p=a-1).
- (c) **Preventing Rosneft from controlling United States energy infrastructure—** The President shall take all necessary steps to prevent Rosneft from gaining control of critical [United States](/usc/22/1395.md?p=a-1) energy infrastructure.
- (d) **Security risk report—** Not later than 90 days after December 20, 2019, the President shall submit a report assessing the national security risks posed by potential Russian acquisition and control of CITGO’s [United States](/usc/22/1395.md?p=a-1) energy infrastructure holdings to—
  - (1) the Committee on [Foreign](/usc/22/3146.md?p=1) Relations of the Senate;
  - (2) the Committee on Homeland Security and Governmental Affairs of the Senate;
  - (3) the Committee on Banking, Housing, and Urban Affairs of the Senate;
  - (4) the Committee on [Foreign](/usc/22/3146.md?p=1) Affairs of the House of Representatives;
  - (5) the Committee on Homeland Security of the House of Representatives; and
  - (6) the Committee on Financial Services of the House of Representatives.

## Source credit

(Pub. L. 116–94, div. J, title I, § 163, Dec. 20, 2019, 133 Stat. 3041.)