The U.S. Monitoring and Investigating Nations Exploiting States (MINES) Act was introduced last week by Republican congressman Calvert to to hold China and Russia accountable for their efforts to monopolize critical mineral resources around the world, particularly in developing nations. Calvert emphasized the need for maintaining and monitoring access to minerals critical to the U.S. economy, wherever their origin might be. 

Argentinian President Fernandez said on Wednesday that his government prepares an energy legislation to submit to the national congress in the coming days that “would give certainty” to energy producers and advance the country’s energy agenda, including LNG. Fernandez argued that the Vaca Muerta shale basin, the world’s second largest unconventional gas reserve and the fourth largest oil reserve, gives the country strong advantages in oil and gas markets. 

Democratic Senator van Hollen and Republican senator Toomey on Tuesday proposed that the Biden administration to use secondary sanctions on international banks as a move to strengthen the planned G7 price cap on Russian oil. The senators announced a framework for legislation to impose the secondary sanctions, which would target financial institutions involved in trade finance, insurance, reinsurance and brokerage of Russia oil and petroleum products sold at prices exceeding the cap.