Cablegram 149 LONDON, 1 July 1944,12.40 a.m.
My telegram No. 137 14th June, Oil. 
1. You will see from my telegram D No. 956  of today that it is
intended to propose, when discussions are renewed, a number of
amendments in the draft memo of understanding. Certain of these
either follow the suggestions in you telegram No. 121 of 30th May
, or are designed to meet the points there raised, and we trust
that the Commonwealth Authorities will feel that in general they
cover the ground satisfactorily.
2. As regards the particular question of collective security, this
has now been given greater emphasis and reference to prevention of
aggression included. We have not, however, thought it possible in
document of this nature to go so far as suggested in your
telegram, towards definite commitments to withhold supplies of oil
from aggressors. Apart from the fact that a provision of that kind
would seem to prejudice the nature of collective security
arrangements to be entered into, the official Oil Delegation
formed the conclusion that the United States Authorities would be
most reluctant to go further at this stage than to provide that
the arrangements now under discussion should be subject, as
regards supplies, to the provisions of future arrangements for
collective security and prevention of aggression.