Banning Oil Exports to Foreign Adversaries Act

This bill prohibits the export of petroleum products drawn from the U.S. Strategic Petroleum Reserve to specific countries and entities, including China, Russia, North Korea, Iran, Venezuela, Syria, Cuba, and any entity controlled by those nations or the Chinese Communist Party. It amends the Energy Policy and Conservation Act to add this export restriction, requiring the Secretary of Energy to issue implementing rules within 60 days of enactment. The Secretary may grant waivers if exports are certified as serving U.S. national security interests. This directly affects U.S. energy exports and entities involved in international oil transactions with the listed countries or their designated affiliates.