US EditionTrump waives U.S. shipping law for 60 days, eases Venezuela oil sanctions to steady oil market
The waiver allows foreign vessels to transport energy commodities between U.S. ports, potentially saving East Coast motorists about 10 cents per gallon, officials said.
- 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.
59 Articles
59 Articles
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...
The Elkhart Truth
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.
U.S. President Donald Trump temporarily suspended a shipping mandate that has been in force for a century with the aim of reducing the cost of transporting oil, gas and other raw materials in the country. The measure is part of his strategy to contain the rise in energy prices, amid the conflict with Iran.On Wednesday, the president authorized foreign-flagged ships to transport various products between U.S. ports over the next 60 days. The exemp…
Trump temporarily waives the Jones Act to try to lower gas prices
The Trump administration has issued a 60-day waiver of the Jones Act in an attempt to lower gasoline prices that have surged since the U.S. and Israel launched a war against Iran.The Jones Act is a century-old maritime law requiring that goods shipped between U.S. ports be transported on U.S.-built and flagged vessels. Temporarily waiving this act opens up domestic shipping routes to foreign-flagged vessels, possibly reducing shipping costs and …
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