Trump waives US shipping law for oil and gas in bid to lower prices
The Straits Times
A White House official stressed that the waiver is temporary. Read more at straitstimes.com.
WASHINGTON – US President Donald Trump temporarily waived a century-old shipping mandate to lower the cost of transporting oil, gas and other commodities around the US, marking his latest bid to combat the rise in energy prices spurred by his war in Iran.
The president on March 18 authorised foreign-flagged vessels to transport a range of commodities between US ports for the next 60 days.
The short-term waiver of the Jones Act – a 1920 law designed to promote US shipbuilding – has been cast by the Trump administration as a way to ease the shipment of energy products vital to national security and prevent shortfalls that could disrupt military operations.
“President Trump’s decision to issue a 60-day Jones Act waiver is just another step to mitigate the short-term disruptions to the oil market as the US military continues meeting the objectives of Operation Epic Fury,” White House Press Secretary Karoline Leavitt said in a statement. “The Administration remains committed to continuing to strengthen our critical supply chains.”
The Jones Act mandates that cargo carried between US ports must be transported on US-flagged, -built and -owned ships.
The waiver exempts those requirements for some cargoes, allowing foreign vessels to temporarily ship several products.
Malaysia has been identified as a hub for illegal ship to ship transfers of crude oil in recent years. Read more at straitstimes.com.
LONDON, March 18 - Five new cases of meningitis have been found in Kent in southeast England, Britain said on Wednesday, taking the total to 20 in what has been called an \"unprecedented\" outbreak that has already killed two young people. Read more at straitstimes.com.
MADRID, March 18 - Spanish Prime Minister Pedro Sanchez said on Wednesday that the crisis in the Middle East would not distract from his country's support for Ukraine in its battle against Russia, as the two countries signed co-production agreements for battle material including drones, radar and missiles. Read more at straitstimes.com.
MOSCOW, March 18 - Russia on Wednesday condemned a strike near Iran's Bushehr nuclear power plant a day earlier which it said was just metres away from its reactor and called on the United States and Israel to stop attacking the Islamic Republic's nuclear facilities. Read more at straitstimes.com.
Iran has attempted to use its grip on the narrow Hormuz as leverage against overwhelming US and Israeli attacks. Read more at straitstimes.com.
ROME, March 18 - The damaged Russian liquefied natural gas tanker that has been adrift in the Mediterranean for the past two weeks has now entered Libyan search and rescue waters, Italy's civil protection agency said on Wednesday. Read more at straitstimes.com.
STOCKHOLM, March 18 - A Swedish citizen was executed in Iran on Wednesday, Sweden's foreign minister said in a statement. Read more at straitstimes.com.
WARSAW, March 18 - A Warsaw court decided on Wednesday that Russian archaeologist Alexander B. should be extradited to Ukraine, where he is accused of involvement in unauthorised excavation and plundering historical artefacts in Crimea, his lawyer said. Read more at straitstimes.com.
COPENHAGEN, March 18 - The wealth tax on which Danish Prime Minister Mette Frederiksen is campaigning ahead of a March 24 election may appear modest: a 0.5% levy set at such a high threshold that barely 20,000 Danes - one in 300 residents - will pay it. Read more at straitstimes.com.
Analysts predict US drivers will face long-term pain at the pump, despite Trump's prediction of falling oil prices after the Iran crisis. Read more at straitstimes.com.
US officials said the warship was deployed to the region, without disclosing its destination or mission. Read more at straitstimes.com.
PARIS, March 18 - It is unreasonable to expect the Lebanese government to disarm Iran-backed Hezbollah while the country is being bombed by Israel, France's special envoy for Lebanon said on Wednesday. Read more at straitstimes.com.
The Fishers have won more than US$8 billion in contracts from the Department of Homeland Security. Read more at straitstimes.com.