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.