US EditionTrump waives U.S. shipping law for 60 days, eases Venezuela oil sanctions to steady oil market
The Trump administration’s 60-day Jones Act waiver and eased Venezuela sanctions aim to ease oil supply disruptions amid surging fuel prices driven by the Iran war.
- On March 18, 2026, President Donald Trump issued a 60-day Jones Act waiver and the U.S. Treasury Department eased Venezuela oil sanctions to boost fuel flow.
- With tanker traffic through the Strait of Hormuz halted, Iran blocks about 15 million barrels, pushing Brent crude near $109 and U.S. crude to about $98 a barrel.
- The Treasury license specifies that companies existing before Jan. 29, 2025 can buy Venezuelan oil but must route payments to a U.S.-controlled account, banning gold and cryptocurrency.
- Labor and shipbuilding groups criticized the waiver, saying it could displace American workers despite U.S. motorists facing a national average gasoline price of $3.842 per gallon and diesel at $5.068.
- Alongside the waiver, the administration plans to release 172 million barrels from the U.S. Strategic Petroleum Reserve as part of a 400 million-barrel global effort, but analysts warn Venezuela production forecast limits gains to 300,000 barrels per day in 2026.
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118 Articles
Washington, 18 Mar (EFE).- U.S. President Donald Trump decided on Wednesday to suspend a law that requires all goods traveling between U.S. ports to be transported on domestic ships, due to the ongoing war with Iran and to try to contain the rise in the cost of gasoline across the country. White House spokesperson Karoline Leavitt said Trump decided to suspend the Jones Act for 60 days to “mit the short-term disruptions in the oil market, while …
White House suspends the Jones Act for 60 days. Analysts see a gas price impact of 3 cents
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 criticism ove…
PBS NewsHour
What to know about the Jones Act as the Trump administration unveils a 60-day waiver
Passed in 1920, this law aims to protect the American shipping sector — but it's also faced criticism over the years for slowing the delivery of goods, including critical aid during time of crisis.
Trump Moves to Free Up Fuel Supply Chains
President Trump issued a 60-day Jones Act waiver in an effort to lower shipping costs for fuel supplies, White House Press Secretary Karoline Leavitt said. The Act prohibits foreign-flagged ships from transporting goods between U.S. ports. Waiving the policy allows them to do so. The Jones Act, signed by then-President Woodrow Wilson as part of the Merchant Marine Act of 1920, aimed to protect the maritime industry, although it increased shippi…
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