jul 2, 1940 - FDR restricts strategic material sales to Japan
Description:
Japan depended on the United States for many key materials, including scrap iron, steel, and especially oil. Approximately 80 percent of Japan's oil came from the United States. In July 1940, Congress passed the Export Control Act, giving Roosevelt the power to restrict the sale of strategic materials to other nations. Roosevelt immediately blocked the sale of airplane fuel and scrap iron to Japan.
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