A provision in the U.S. funding legislation presented by congressional leaders on Sunday targets China’s access to the Strategic Petroleum Reserve (SPR), aiming to prevent oil sales to the nation.
The bipartisan push against China reflects one of the few areas of agreement in the sharply divided U.S. Congress, with numerous bills introduced to address competition with China’s government.
The issue gained prominence after President Joe Biden‘s announcement in 2022 of a sale of 180 million barrels of SPR oil to stabilize soaring gasoline prices following Russia’s invasion of Ukraine.
Previous sales to China’s UNIPEC America and PetroChina International during the Trump administration have raised concerns about national energy security.
With the SPR’s oil reserves dipping close to 40-year lows due to the 2022 sales, efforts to restrict exports to China gained momentum, culminating in a bill passed by the Democratic-controlled Senate last July. However, Senator Chris Murphy cautioned against the efficacy of such measures, warning of potential unintended consequences.
The unveiling of the 1,050-page funding bill sets the stage for congressional deliberation on six government funding segments, with the remaining six to follow later in the month.
Senate Majority Leader Chuck Schumer outlined the legislative timeline, emphasizing the House’s initial vote and subsequent Senate consideration before Friday’s deadline, as lawmakers prepare to reconvene in Washington.
