Banning SPR Oil Exports to Foreign Adversaries Act

HR 942, the "Banning SPR Oil Exports to Foreign Adversaries Act," prohibits the export of petroleum products drawn from the U.S. Strategic Petroleum Reserve to China, North Korea, Russia, Iran, and any entity owned or controlled by these countries or the Chinese Communist Party. The Secretary of Energy may grant a waiver for such exports if certified as serving U.S. national security interests, but must issue implementing rules within 60 days of enactment. This policy directly affects U.S. energy exports and entities seeking to purchase SPR oil from the listed adversaries.