Washington, Dec 20: The United States has lifted a 40-year-old ban on export of oil, thus paving the way for energy deficient countries like India to open up another frontier to import oil from a distant friendly nation.
The ban was lifted as President Barack Obama signed into law the Omnibus USD 1.8 trillion spending package and tax bill for the current fiscal ending on September 30, 2016 on Saturday.
The move was welcomed by the industry, while pro- environmental groups were critical of it.
