President Donald Trump has temporarily waived the Jones Act to allow foreign-flagged ships carrying oil and gas to travel between US ports, the White House announced on Wednesday. The 60-day waiver is intended to mitigate rising energy prices as the US continues its military campaign against Iran.
The move comes as the Trump administration seeks to balance efforts to suppress oil prices with the ongoing conflict, which has disrupted global supply routes. The White House said the waiver was “another step to mitigate short-term disruptions to oil markets as the US military continues meeting the objectives of Operation Epic Fury”.
The Jones Act, passed in 1920, protects the US shipping industry by restricting domestic cargo transport to American-built, -flagged and -crewed vessels. The waiver allows foreign tankers to operate between US ports. US gas prices rose to $3.84 a gallon on Wednesday, the highest since September 2023, while Brent crude traded at $108 a barrel.
Despite the conflict, Iran continues to export oil through the Strait of Hormuz, earning an estimated $140m a day, according to the Financial Times. At least 13 Iranian supertankers carrying 24m barrels have passed through the strait since fighting began on 28 February. US Treasury Secretary Scott Bessent told CNBC that the US had allowed Iranian tankers to pass “to supply the rest of the world”.
Last week, the US struck Iran’s Kharg island, targeting military sites while leaving oil infrastructure untouched. Trump has pressed allies for help in reopening the strait but was rebuffed by European nations, including Britain. At a White House press conference, he called the refusals a “very foolish mistake”.
