WASHINGTON (Pakistan Point News / Sputnik - 06th May, 2022) The Biden administration is reviewing a US Senate bill that would provide the legal grounds to file lawsuits against the Organization of the Petroleum Exporting Countries (OPEC) due to potential consequences of the measure, White House spokesperson Jen Psaki said.
"I don't have an official position on this legislation right now, but we do believe that the potential implications and unintended consequences of this legislation require further study and deliberation," Psaki said during a press briefing on Thursday.
Earlier this week, the US Senate Judiciary Committee advanced the No Oil Producing and Exporting Cartels Act (NOPEC) that would allow lawsuits against OPEC on the grounds of antitrust behavior and market manipulation. It is unclear if the bill will go to the Senate floor for a vote.
