Senators Unveil Bipartisan Bill to Block Sales of Oil Reserves to China, Russia, Iran

Published on March 21, 2024

Sens. John Fetterman (D-Pa.) and Joni Ernst (R-Iowa) introduced the bipartisan Banning Oil Exports to Foreign Adversaries Act on March 21. The legislation will ban the sale or export of oil from the U.S. Strategic Petroleum Reserve (SPR) to foreign enemies. The new bill will specifically prohibit sales to any organization owned, controlled, or influenced by the Chinese Communist Party (CCP) as well as to the nations of China, Russia, Iran, Venezuela, Syria, and Cuba. Sens. Sherrod Brown (D-Ohio), Bob Casey (D-Pa.), and Tom Cotton (R-Ark.) joined as cosponsors. “Our Strategic Petroleum Reserve is meant to protect the energy security of America and our allies,” Mr. Fetterman said in a press release from his office....

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