About:
- NOPEC bill, which passed a Senate committee 17-4 on May 5, is intended to protect U.S. consumers and businesses from engineered oil spikes.
- The bipartisan NOPEC bill would tweak U.S. antitrust law to revoke the sovereign immunity that has protected OPEC+ members and their national oil companies from lawsuits.
- If signed into law, the S. attorney general would gain the option to sue the oil cartel or its members, such as Saudi Arabia, in federal court.
- It is unclear exactly how a federal court could enforce judicial antitrust decisions against a foreign nation.
Source : Indian Express
Last updated on June, 2025
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