US Senators aim to deny SPR oil to firms over Iran trade

February 3, 2012 01:44

WASHINGTON - Foreign companies that trade oil with Iran should be banned from buying oil from US emergency reserves, a group of 17 US senators said on Thursday, unveiling a bill that would build on a raft of new sanctions that aim to constrict Tehran's oil revenues.

The bill was sparked by concerns from lawmakers about sales of oil from the US strategic petroleum reserve to Vitol and Trafigura last year, part of an international draw-down of emergency stockpiles after unrest in Libya sent oil prices soaring.

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