Tehran's retaliation brought commercial shipping through the Strait of Hormuz to a virtual halt, snarling energy supply chains. This strains American household budgets further -- with consumers already facing high costs of living -- piling pressure on the Trump administration as key midterm elections approach. "This license will benefit both the United States and Venezuela, while supporting the global energy market by increasing the supply of available oil," said a Treasury spokesperson. Josh Lipsky of the Atlantic Council told AFP that the shipping law waiver "is unlikely to have a significant impact on global energy markets and gas prices." S&P Global analysts estimate that Jones Act deliveries can cost billions of dollars more than employing a foreign vessel.

Source: Bangladesh Sangbad Sangstha March 18, 2026 17:40 UTC