On the recordJuly 31, 2003
this amendment would make both agreements part of the United States law, rather than subject to continued renewal agreements. Further, the amendment also authorizes the President to export oil to, or secure oil for, Israel pursuant to these agreements, or to any country that is part of the International Emergency Oil Sharing Plan. This language also ensures that should legislation reinstating a ban on the exportation of domestic oil be implemented in the future, the United States would still be able to meet its obligations to Israel.
Source
govinfo.gov




