WASHINGTON: US President Donald Trump signed an executive order on Wednesday to streamline federal regulation governing commercial rocket launches, a move that would benefit Elon Musk’s SpaceX and other private space ventures.
Trump’s order, among other things, directs the US transportation secretary to eliminate or expedite environmental reviews for launch licenses administered by the Federal Aviation Administration, the White House said in a statement.
The declaration also calls on the secretary to do away with “outdated, redundant or overly restrictive rules for launch and reentry vehicles.”
“Inefficient permitting processes discourage investment and innovation, limiting the ability of US companies to lead in global space markets,” the executive order states.
It added: “Overly complex environmental and other licensing and permitting regulations slow down commercial space launches and infrastructure development, and benefit entrenched incumbents over new market entrants .”
Although Musk and Trump have remained embroiled in a high-profile feud for months, the billionaire entrepreneur’s SpaceX rocket and satellite venture potentially stands to be the single biggest immediate beneficiary of Trump’s order on Wednesday.
SpaceX, although not mentioned by name in the executive order, easily leads all other US space industry entities, including NASA, in the sheer number of launches it routinely conducts.
Musk has complained that environmental impact reviews and post-flight mishap investigations have repeatedly slowed down testing of SpaceX’s ambitious new Starship rocket vehicle, under development at the company’s South Texas launch facility.
Trump orders easing of commercial spaceflight regulations, in boon to Musk’s SpaceX
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Trump orders easing of commercial spaceflight regulations, in boon to Musk’s SpaceX
- The declaration also calls on the secretary to do away with “outdated, redundant or overly restrictive rules for launch and reentry vehicles.”
Kremlin welcomes US sanctions waiver says US and Russia share interest in stable energy markets
DUBAI: Russia sees a U.S. sanctions waiver on its oil as an attempt by Washington to stabilise global energy markets, and the two countries have a shared interest in this, Kremlin spokesman Dmitry Peskov said on Friday.
"We see actions by the United States aimed at trying to stabilise energy markets. In this respect, our interests coincide," he said.
US Treasury Secretary Scott Bessent announced a temporary authorisation allowing countries around the world to purchase Russian oil currently stranded at sea on Thursday extending a measure that had previously been granted only to Indian refiners.
Bessent stressed in a post on X that the authorisation would not provide significant financial benefit to the Russian government.
“This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction,” Bessent said on a post on X.
However, the measure received mix reviews in European capitals, with many fearing it could help replenish Russia's assualt on Ukraine.
"I am concerned that we are further filling Putin's war chest," German Economy Minister Katherina Reiche said in Berlin on Friday.
Reiche said that she saw both sides to the United States' decision to issue a 30-day waiver for the purchase of Russian oil products, understanding the increasing ecnomic and political turnout from the oil crisis, particurlarly in South Korea and Japan.
"It seems to me that domestic political pressure in the United States is very, very high," Reiche said.
German Chancellor Friedrich Merz was more direct, saying on Friday that it was wrong to ease sanctions against Russia for whatever reason. The sentiment was echoed by Norway’s Prime Minister, who also said sanctions should not be eased.
Oil prices held gains above $100 Friday and most equity markets dropped after Iran's leader called for the blocking of the crucial Strait of Hormuz and the opening up of new fronts in the war against the United States and Israel.
With the conflict heading towards its third week and showing no signs of ending, investors are growing increasingly worried about an extended crisis that could fan inflation and hammer the global economy.
