This bill, known as the "SAVE Act," proposes to amend the Energy Policy and Conservation Act to restrict the sale of petroleum products from the Strategic Petroleum Reserve (SPR). The legislation specifically prohibits the Secretary of Energy from selling SPR petroleum to entities headquartered in certain countries. This includes nations identified in Table 1 to paragraph (d)(1) under section 126.1 of title 22, Code of Federal Regulations, which typically designates state sponsors of terrorism or countries under specific arms embargoes. Additionally, the bill explicitly bans sales to any entity headquartered in Russia . This measure aims to safeguard U.S. strategic energy assets from being utilized by or benefiting adversarial foreign entities.
This bill, known as the "SAVE Act," proposes to amend the Energy Policy and Conservation Act to restrict the sale of petroleum products from the Strategic Petroleum Reserve (SPR). The legislation specifically prohibits the Secretary of Energy from selling SPR petroleum to entities headquartered in certain countries. This includes nations identified in Table 1 to paragraph (d)(1) under section 126.1 of title 22, Code of Federal Regulations, which typically designates state sponsors of terrorism or countries under specific arms embargoes. Additionally, the bill explicitly bans sales to any entity headquartered in Russia . This measure aims to safeguard U.S. strategic energy assets from being utilized by or benefiting adversarial foreign entities.