U.S. eases sanctions on Venezuelan oil as Trump seeks to boost world oil supply during Iran war

The Trump administration is easing sanctions on Venezuelan oil and waiving maritime shipping requirements between U.S. ports, moves aimed at increasing global oil supply amid the ongoing Iran conflict. The oil sanctions relief reverses part of the maximum pressure campaign that had severely restricted Venezuelan crude imports to the United States, while the 60-day shipping waiver allows non-U.S. vessels to carry goods between American ports—a rare exception to the Jones Act that typically mandates such cargo move on domestically-flagged ships. By boosting oil availability and reducing shipping costs, the administration is attempting to moderate energy prices and stabilize markets during geopolitical tensions involving Iran. The shifts signal Trump's willingness to use sanctions relief and regulatory flexibility as tools to manage energy markets and inflation concerns. Both measures are temporary, with the shipping waiver set to expire in 60 days.