Axios

President Trump on Friday invoked a Cold War-era law in a bid to boost oil production off Southern California's coast and meet demand in the wake of the Iran war.

Why it matters: The president's signing of an executive order allowing use of the Defense Production Act shows he's trying to employ a variety of tools to try to tamp down the oil price shocks set off by the war.

Groups linked to AIPAC are employing an eyebrow-raising tactic to sink pro-Palestinian progressives in Democratic congressional primaries: Going after their leftist bona fides.

Why it matters: It is a telling indication of what the ruthlessly pragmatic pro-Israel organization sees as a winning message with Democratic voters who have grown increasingly hostile towards their brand.

In a phone call with President Trump this week, Russian President Vladimir Putin proposed moving Iran's enriched uranium to Russia as part of a deal to end the war.

• Trump turned him down, sources tell Axios.

Why it matters: Securing Iran's 450 kilograms of 60%-enriched uranium — convertible to weapons grade within weeks, and enough for more than 10 nuclear bombs — is one of the U.S. and Israel's key war objectives.

A federal judge tossed out Department of Justice subpoenas sent to Federal Reserve chair Jerome Powell earlier this year, according to a filing unsealed on Friday.

Why it matters: The judge accused the Trump administration of using the criminal investigation to pressure the head of the world's most important central bank to lower interest rates.

• The judge, James Boasberg, the chief judge for the U.S. District Court for Washington, D.C., also scolded the administration for providing "no evidence whatsoever" that the Fed chief had committed a crime.

Reckitt Catalyst entrepreneur-in-residence Serena Williams told founders at Axios House during SXSW on Friday that one of the toughest hurdles for early-stage entrepreneurs is learning how to sell themselves.

Why it matters: The former tennis star says underinvested entrepreneurs — who are frequently people of color and women — are passionate, problem-solvers but they need mentors to help them with storytelling.

The Treasury Department made it easier Friday for U.S. businesses and farmers to buy Venezuelan fertilizer and oil as their prices rise because of the Iran war, Axios has learned.

Why it matters: The bottleneck of tankers in the Persian Gulf because of Iranian attacks has caused the costs of oil and fertilizer, a petrochemical product, to jump. It threatens to spike inflation and raise the cost of food in the U.S.

Ric Grenell plans to transition out of his role as president of the 54-year-old Kennedy Center on Monday, as the nation's premier performing arts venue finalizes plans for a two-year shutdown for renovations, Axios has learned.

• Grenell will be succeeded by Matt Floca, the vice president of facilities operations at the national cultural center, which was renamed the Trump Kennedy Center after a December vote of its board of trustees.

Democrats will learn whether money talks in 2026 in the Illinois Senate primary Tuesday in a race that will almost certainly determine who replaces Sen. Dick Durbin (D-Ill.).

Why it matters: Rep. Raja Krishnamoorthi is hoping the better-funded candidate emerges victorious in Illinois, just like in Texas this month, when state Rep. James Talarico beat Rep. Jasmine Crockett, 52%–46%.

House Democrats' effort to censure two GOP members over Islamophobic social media posts is poised to put Speaker Mike Johnson (R-La.) in the hot seat after he declined to condemn the remarks.

Why it matters: Recent violent attacks in Michigan and Virginia have heightened partisan tensions on Capitol Hill.

Defense Secretary Pete Hegseth is sending an amphibious assault ship, the USS Tripoli, and its Marine expeditionary unit to the Middle East, a senior U.S. official confirmed to Axios on Friday.

Why it matters: The deployment will add thousands of Marines, several warships, and F-35 fighter jets to support those already in the region, the U.S. official said.