To provide for the waiver of the Export Administration Act and certain authorities invoked under the Trading With the Enemy Act with respect to oil and gas exploration and development in Vietnam by United States persons.

[AI summary unavailable — showing source text] Requires the Secretaries of the Treasury and of Commerce to issue regulations to waive certain provisions under the Foreign Assets Control Regulations, the Transaction Control Regulations, the Foreign Funds Control Regulations, and the Export Administration Regulations which relate to prohibitions on oil and gas exploration and development in Vietnam by U.S. persons.…