It appears that Italy relied on oil reserves which were depleted as early as 1941. The Italian Navy used the majority of oil and by April 1942 they were dry.
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Response last updated by gtho4 on Jun 27 2021.
Apr 15 2008, 6:15 PM
American banks and businesses continued to support the fascist regimes of Europe legally up until the day Germany declared war on America and the activities were stopped under the Trading with the Enemy Act. Despite this, some companies and individuals still maintained a business relationship with the Third Reich. Ford and GM supplied European fascists with trucks and equipment as well as investing money in I.G. Farben plants. Standard Oil supplied the fascists with fuel.
Also according to this reference, the League of Nations imposed an oil embargo on Italy in 1935-1936 due to Italy's aggretions towards Ethiopia. All the countries of the UN adheared to the embargo except Germany and the USA.
Throughout the Antonescu years, Romania supplied Nazi Germany and the Axis armies with oil, grain, and industrial products. Consequently, by 1943 Romania became a target of Allied aerial bombardment. One of the most notable air bombardments was the attack on the oil fields of Ploieşti (Ploesti) on August 1, 1943.
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