US EditionTrump waives U.S. shipping law for 60 days, eases Venezuela oil sanctions to steady oil market
The 60-day waiver allows foreign ships to transport energy commodities between U.S. ports, aiming to reduce shipping costs and ease supply disruptions from the Iran conflict.
- President Trump has issued a 60-day waiver of the Jones Act, a century-old shipping law, to allow foreign-flagged vessels to transport oil between U.S. ports and stabilize domestic fuel prices.
- The administration also announced a significant easing of sanctions on Venezuela’s state-owned oil company, PDVSA, permitting a surge in exports to the global market to offset the loss of Iranian supply.
- These dual policy shifts are part of a broader "maximum production" strategy as the Iran War continues to disrupt traditional oil routes.
- Energy analysts suggest that while the shipping waiver will provide immediate relief to U.S. coastal refineries, the Venezuelan deal is a longer-term play to reintegrate heavy crude into the international supply chain.
- Critics of the move have expressed concern over the environmental and political trade-offs of the decision, while proponents argue that prioritizing market stability is essential for national security during the current conflict.
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81 Articles
What to know about the Jones Act as Trump unveils a 60-day waiver
NEW YORK — As the U.S. and Israel's war against Iran continues to upend energy markets and supply chains worldwide, the Trump administration says it will temporarily waive maritime shipping requirements under a more than century-old law known as the Jones Act. The Jones Act requires that goods hauled between U.S. ports be moved on U.S.-flagged vessels. Passed in 1920, this law aims to protect the American shipping sector — but it's also faced cr…
Trump Temporarily Freezes Jones Act to Ease Fuel Costs
President Trump is temporarily setting aside a 100-year-old shipping rule as his administration scrambles to curb rising fuel costs tied to the war in Iran. The White House on Wednesday approved a 60-day waiver of the Jones Act, a 1920 law that normally requires goods moving between US ports to...
What to know about the Jones Act as the Trump administration unveils a 60-day waiver
As the U.S. and Israel’s war against Iran continues to upend energy markets and supply chains worldwide, the Trump administration says it will temporarily waive maritime shipping requirements under a more than century-old law known as the Jones Act. The…
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Trump administration takes steps to curb energy cost hikes
US President Donald Trump's administration scrambled Wednesday to rein in surging energy costs from war in the Middle East, temporarily waiving a century-old shipping law and easing Venezuela sanctions.
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