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Trump Suspends US Shipping Regulations to Lower Oil Costs During Middle East Tensions
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Trump Waives Century-Old Shipping Law Amid Iran War to Ease Fuel Costs
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News18
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18-03-2026, 19:49
Trump Waives Century-Old Shipping Law Amid Iran War to Ease Fuel Costs
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US President Donald Trump temporarily waived the Jones Act for 60 days to combat soaring oil and gas prices.
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The waiver allows foreign-flagged vessels to transport cargo between US ports, bypassing the requirement for US-built, owned, and crewed ships.
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The move aims to mitigate short-term disruptions to energy and fertilizer supplies, according to the White House.
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Global oil prices surged above $100 a barrel, with Brent crude rising over five percent to $108 per barrel.
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Iran's threat to target energy facilities and disruption in the Strait of Hormuz have caused global fuel and fertilizer price hikes.
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