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Banning Emergency Oil Exports from Strategic Reserve to Foreign Adversaries.

This law aims to protect the US Strategic Petroleum Reserve (SPR) by prohibiting the sale of emergency crude oil to bidders who intend to export it to China, Russia, North Korea, or Iran. This ensures that oil released during crises serves US national security interests. The Secretary of Energy can only waive this ban in exceptional circumstances deemed vital for national security.
Key points
Restriction on SPR Oil Sales: Crude oil sold from the Strategic Petroleum Reserve cannot be exported to China, Russia, North Korea, or Iran.
Purpose: To ensure US emergency energy assets do not benefit geopolitical rivals.
Reporting Requirement: The government must report on the destination and ownership of facilities refining SPR oil sold since November 2021.
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Additional Information
Print number: 118_S_283
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2023-02-07