U.S. Reclassifies Medical Marijuana and Boards Sanctioned Oil Tanker

The U.S. Justice Department reclassified medical marijuana on Thursday, moving it from Schedule I to Schedule III under federal drug classifications. This change applies to FDA-approved marijuana drug products and state-licensed medicinal marijuana.

The reclassification recognizes state regulations and aims to facilitate research and tax deductions for providers. Previously, Schedule I drugs were defined by the Drug Enforcement Administration as having no accepted medical use and high abuse potential, similar to heroin and LSD.

Schedule III drugs are considered to have moderate to low potential for dependence, like ketamine and testosterone. The Justice Department stated that the action addresses the reality of state-level medical marijuana regulation.

The Trump administration announced a hearing on June 29 to consider fully reclassifying marijuana, including for recreational use. This could expand research into marijuana's safety and efficacy. Acting Attorney General Todd Blanche noted that the changes would empower doctors and improve patient access to treatments.

The reclassification allows state medical marijuana providers to register federally and deduct business expenses from taxes. It does not affect recreational marijuana. The moves follow longstanding state regulations of medical marijuana.

U.S. Military Action on Oil Tanker U.S.

forces boarded the M/T Majestic X, a stateless oil tanker in the Indian Ocean, on Thursday. The tanker had been sanctioned for shipping Iranian oil and was operating under a false flag. The Defense Department released video showing troops landing on the ship with helicopter support.