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Wednesday, March 29, 2023

Senators consider banning oil exports to Iran and Russia

Senate Majority Leader Chuck Schumer said Wednesday that senators could try to include Iran and Russia in a bill passed by the House of Representatives to ban the export of oil from the strategic reserve. oil to China.

“And Iran? And Russia? Schumer told reporters after a weekly closed meeting of Democratic senators. “We might consider adding a few more countries.”

In February 2022, when Russia invaded Ukraine, the United States exported 5,000 barrels of crude oil and petroleum products to Russia and has not shipped a single one since. The last time a relatively large supply of 145,000 barrels was made was in March 2009.

The United States does not export oil to Iran.

Energy Secretary Jennifer Granholme said last week that Biden would veto another bill passed by the House of Representatives to limit the president’s ability to release oil from the Strategic Petroleum Reserve.

Under the bill, the president could only use SPR in non-emergency circumstances if permission was granted to increase production.

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