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H.R. 2325: Central African Exploitation and Manipulation of American Companies Act

This bill, titled the Central African Exploitation and Manipulation of American Companies Act (CEMAC Act), aims to influence the United States' support for actions taken by the International Monetary Fund (IMF) regarding member states of the Central African Economic Monetary Community (CEMAC).

Key Provisions of the Bill

The main components of the bill are as follows:

  • The United States will not support any IMF actions related to CEMAC member states until a specific determination about foreign exchange reserves is made.
  • The bill emphasizes that funds given to the Bank of Central African States (BEAC) by extractive industry companies for site rehabilitation should not count as part of the gross foreign exchange reserves of CEMAC member states.
  • It is the policy of the United States to assert that the IMF has a responsibility to clarify what qualifies as eligible and ineligible assets for foreign exchange reserves, ensuring that these regulations do not mislead member states.

Background Information

There are several findings that outline the context for this bill:

  • CEMAC member states have substantial oil and gas resources and maintain long-standing relationships with international oil companies (IOCs).
  • A foreign exchange regulation by BEAC requires IOCs to repatriate restoration funds meant for rehabilitation to the central bank.
  • Discussions have been ongoing for several years to address the operational issues with this regulation, but some significant concerns remain, including penalties for non-compliance and the role of BEAC.
  • The implementation of this regulation threatens to deter investment in the region’s natural resources and could lead to significant revenue losses for the CEMAC member states.
  • The IMF guidelines suggest that certain funds, including the restoration funds, may not meet the criteria necessary to be counted towards a country's foreign exchange reserves.

Actions Required by the U.S. Government

The bill outlines specific actions and responsibilities for U.S. government officials:

  • The Secretary of the Treasury, in coordination with the U.S. Executive Director at the IMF and the Secretary of State, must make a determination regarding the eligibility of the funds for foreign exchange reserves.
  • Until this determination is made, U.S. representatives are directed to oppose any actions by the IMF that would financially benefit CEMAC member states.
  • The Secretary of the Treasury must document and report on efforts made to ensure clarity from the IMF about the status of these funds.

Implications of the Bill

The bill is intended to protect U.S. investments in the region by addressing the financial environment created by the BEAC's regulations. Critics assert that the existing regulations could lead to reduced investment and revenue in the region, which the bill aims to mitigate by influencing how funds are treated under IMF guidelines.

Relevant Companies

  • XOM (Exxon Mobil Corporation): As a major player in the global oil market, changes to regulatory compliance in Central Africa could affect its operational expenses and investment decisions in the region.
  • CVX (Chevron Corporation): Similar to Exxon, Chevron has significant investments in oil and gas in Central Africa, and the ramifications of the BEAC’s foreign exchange regulations could impact its financial strategies.
  • RDS-A (Royal Dutch Shell plc): Shell's investments in the Central African region may be influenced by changes to how restoration funds are treated under IMF guidelines, potentially altering its future investment strategies.

This is an AI-generated summary of the bill text. There may be mistakes.

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Sponsors

3 bill sponsors

Actions

2 actions

Date Action
Mar. 25, 2025 Introduced in House
Mar. 25, 2025 Referred to the House Committee on Financial Services.

Corporate Lobbying

0 companies lobbying

None found.

* Note that there can be significant delays in lobbying disclosures, and our data may be incomplete.

Potentially Relevant Congressional Stock Trades

Estimated excess return of the underlying stock since the transaction
Politician Stock Transaction Filed Traded
Congress pfp
Bruce Westerman R / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Apr 16, 2025 Mar 03, 2025 -0.07%
Congress pfp
Bruce Westerman R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Apr 16, 2025 Mar 03, 2025 +9.10%
Congress pfp
Robert Bresnahan R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Sale $15,001 - $50,000
Mar 27, 2025 Feb 25, 2025 +8.88%
Congress pfp
Jefferson Shreve R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $50,001 - $100,000
Mar 09, 2025 Feb 24, 2025 +7.97%
Congress pfp
Robert Bresnahan R / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Feb 13, 2025 Jan 13, 2025 -1.77%
Congress pfp
Emily Randall D / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Feb 11, 2025 Jan 06, 2025 +10.87%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Jan 15, 2025 Dec 10, 2024 +7.60%
Congress pfp
Michael T. McCaul R / House
CVX logo
CVX CHEVRON CORP
Sale $100,001 - $250,000
Dec 16, 2024 Nov 20, 2024 -3.67%
Congress pfp
Michael T. McCaul R / House
CVX logo
CVX CHEVRON CORP
Sale $15,001 - $50,000
Dec 16, 2024 Nov 20, 2024 -3.67%
Congress pfp
Jared Moskowitz D / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Dec 09, 2024 Nov 08, 2024 -0.14%
Congress pfp
Jared Moskowitz D / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Dec 09, 2024 Nov 08, 2024 +0.29%
Congress pfp
Greg Landsman D / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Sale $15,001 - $50,000
Nov 14, 2024 Oct 15, 2024 -1.95%
Congress pfp
John James R / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Sep 06, 2024 Sep 04, 2024 +1.47%
Congress pfp
Shelley Moore Capito R / Senate
XOM logo
XOM Exxon Mobil Corp
Sale (Partial) $1,001 - $15,000
Aug 11, 2024 Jul 17, 2024 -3.66%
Congress pfp
Josh Gottheimer D / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Jul 09, 2024 Jun 21, 2024 -7.65%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Jul 15, 2024 Jun 10, 2024 -3.72%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Jul 15, 2024 Jun 10, 2024 -3.72%
Congress pfp
Greg Landsman D / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Aug 14, 2024 May 29, 2024 -5.95%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Purchase $1,001 - $15,000
Jun 14, 2024 May 07, 2024 -17.03%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Exchange $100,001 - $250,000
Jun 07, 2024 May 03, 2024 -10.79%
Congress pfp
Tommy Tuberville R / Senate
XOM logo
XOM Exxon Mobil Corporation Common Stock
Sale (Full) $50,001 - $100,000
May 15, 2024 Apr 30, 2024 -14.47%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Sale (Full) $100,001 - $250,000
May 15, 2024 Apr 30, 2024 -19.38%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Purchase $1,001 - $15,000
May 15, 2024 Apr 29, 2024 -20.32%
Congress pfp
Mike Kelly R / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Jun 14, 2024 Apr 12, 2024 -16.32%
Congress pfp
Chip Roy R / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Sale $15,001 - $50,000
Apr 11, 2024 Apr 10, 2024 -17.63%
Congress pfp
Chip Roy R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Sale $15,001 - $50,000
Apr 11, 2024 Apr 10, 2024 -14.88%
Congress pfp
Michael C. Burgess R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Sale $15,001 - $50,000
Apr 10, 2024 Mar 11, 2024 -4.88%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Apr 12, 2024 Mar 11, 2024 -4.88%
Congress pfp
Michael C. Burgess R / House
XOM logo
XOM EXXON MOBIL CORPORATION
Purchase $15,001 - $50,000
Jan 22, 2024 Jan 02, 2024 -7.04%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corp
Sale (Full) $1,001 - $15,000
Jan 12, 2024 Dec 18, 2023 -18.99%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corp
Sale (Full) $1,001 - $15,000
Jan 12, 2024 Dec 18, 2023 -18.99%
Congress pfp
Jerry Moran R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Sale (Full) $1,001 - $15,000
Jan 17, 2024 Dec 14, 2023 -19.61%
Congress pfp
Jerry Moran R / Senate
XOM logo
XOM Exxon Mobil Corporation Common Stock
Sale (Full) $1,001 - $15,000
Jan 17, 2024 Dec 14, 2023 -6.31%
Congress pfp
Jerry Moran R / Senate
XOM logo
XOM Exxon Mobil Corporation Common Stock
Sale (Full) $1,001 - $15,000
Jan 17, 2024 Dec 14, 2023 -6.31%
Congress pfp
Jerry Moran R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Sale (Full) $1,001 - $15,000
Jan 17, 2024 Dec 14, 2023 -19.61%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corp
Purchase $50,001 - $100,000
Jan 12, 2024 Dec 14, 2023 -19.61%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corp
Purchase $100,001 - $250,000
Jan 12, 2024 Dec 13, 2023 -16.55%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION
Purchase $1,001 - $15,000
Jan 13, 2024 Dec 11, 2023 -6.65%
Congress pfp
John R. Curtis R / House
CVX logo
CVX CHEVRON CORPORATION
Sale $1,001 - $15,000
Dec 15, 2023 Dec 04, 2023 -20.12%
Congress pfp
Shelley Moore Capito R / Senate
CVX logo
CVX Chevron Corp
Purchase $1,001 - $15,000
Jan 12, 2024 Dec 01, 2023 -19.50%
Congress pfp
John James R / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Sep 02, 2024 Nov 10, 2023 -16.47%
Congress pfp
John James R / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Sep 02, 2024 Nov 10, 2023 -23.08%
Congress pfp
Greg Stanton D / House
CVX logo
CVX CHEVRON CORPORATION
Sale $1,001 - $15,000
Nov 09, 2023 Oct 24, 2023 -36.32%
Congress pfp
Greg Stanton D / House
XOM logo
XOM EXXON MOBIL CORPORATION
Sale $1,001 - $15,000
Nov 09, 2023 Oct 24, 2023 -25.69%
Congress pfp
Markwayne Mullin R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Purchase $1,001 - $15,000
Nov 01, 2023 Oct 03, 2023 -42.32%
Congress pfp
Greg Stanton D / House
XOM logo
XOM EXXON MOBIL CORPORATION
Purchase $1,001 - $15,000
Nov 09, 2023 Sep 26, 2023 -31.36%
Congress pfp
Greg Stanton D / House
CVX logo
CVX CHEVRON CORPORATION
Purchase $1,001 - $15,000
Nov 09, 2023 Sep 26, 2023 -41.04%
Congress pfp
Markwayne Mullin R / Senate
CVX logo
CVX Chevron Corp
Purchase $15,001 - $50,000
Oct 12, 2023 Sep 13, 2023 -34.97%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION
Purchase $1,001 - $15,000
Oct 13, 2023 Sep 11, 2023 -23.77%
Congress pfp
Dan Sullivan R / Senate
CVX logo
CVX Chevron Corp
Sale (Full) $1,001 - $15,000
Sep 18, 2023 Aug 22, 2023 -33.50%
Congress pfp
Michael Guest R / House
CVX logo
CVX CHEVRON CORPORATION
Purchase $1,001 - $15,000
Aug 23, 2023 Aug 07, 2023 -30.63%
Congress pfp
Michael Guest R / House
XOM logo
XOM EXXON MOBIL CORPORATION
Purchase $1,001 - $15,000
Aug 23, 2023 Aug 07, 2023 -17.12%
Congress pfp
Jared Moskowitz D / House
CVX logo
CVX CHEVRON CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Aug 21, 2024 Jul 14, 2023 -27.46%
Congress pfp
Jared Moskowitz D / House
XOM logo
XOM EXXON MOBIL CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Aug 21, 2024 Jul 14, 2023 -11.31%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Purchase $1,001 - $15,000
Jul 14, 2023 Jun 12, 2023 -33.75%
Congress pfp
Kevin Hern R / House
XOM logo
XOM EXXON MOBIL CORPORATION
Purchase $1,001 - $15,000
Jul 12, 2023 Jun 09, 2023 -22.93%
Congress pfp
Tommy Tuberville R / Senate
CVX logo
CVX Chevron Corporation Common Stock
Sale (Partial) $1,001 - $15,000
Jul 14, 2023 Jun 05, 2023 -34.63%
Congress pfp
Shelley Moore Capito R / Senate
XOM logo
XOM Exxon Mobil Corporation Common Stock
Sale (Partial) $1,001 - $15,000
Jun 14, 2023 May 10, 2023 -28.38%
Congress pfp
Robert J. Wittman R / House
XOM logo
XOM EXXON MOBIL CORPORATION
Purchase $1,001 - $15,000
May 07, 2023 Apr 20, 2023 -35.43%