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Restrictions on Strategic Petroleum Reserve Sales: Export and Entity Bans

New rules limit the sale of oil from the U.S. Strategic Petroleum Reserve. This means the oil cannot be exported to countries designated for religious freedom violations, nor sold to state-owned entities that have purchased oil from sanctioned nations. The aim is to ensure strategic resources align with U.S. national security and foreign policy interests.
Key points
Oil from the U.S. Strategic Petroleum Reserve cannot be exported to countries violating religious freedom.
State-owned entities that bought oil from sanctioned countries are barred from purchasing oil from the Strategic Petroleum Reserve.
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Additional Information
A bill to amend the Energy Policy and Conservation Act to require the Secretary of Energy to stipulate, as a condition on the sale at auction of any petroleum products from the Strategic Petroleum Reserve, that the petroleum products not be exported to certain countries, to prohibit such sales to certain state-owned entities, and for other purposes.
Print number: S 4651
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2022-07-28