No Oil Producing and Exporting Cartels Act of 2023 or NOPEC
This bill prohibits a foreign state from engaging in collective action impacting the market, supply, price, or distribution of oil, natural gas, or any other petroleum product in the U.S. Specifically, a foreign state is prohibited from
collective action that limits the production or distribution of such product, collective action to set or maintain the price of such product, or any other action that restrains trade of such product. Specified defenses such as sovereign immunity (i.e., a foreign state's immunity from the jurisdiction of U.S. courts) and the act of state doctrine (i.e., the prohibition of a court invalidating an official act of a foreign sovereign performed within its own territory) shall not apply to a foreign state's violation of this bill.
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