Oil Prices Fall as Trump Considers Easing Sanctions on Shadow Fleet Tankers
The proposal would let some sanctioned vessels carry legitimate fuel with Treasury approval, while insurers and EU and UK rules would still limit wider relief.
- On Wednesday, the United States administration discussed easing sanctions on shadow fleet vessels to reduce record-high global freight rates and boost crude oil exports from the Gulf.
- Energy Secretary Chris Wright revealed these talks at the World Petroleum Congress in Riyadh this week, following President Donald Trump's recent decision to temporarily lift sanctions on Russian diesel, which sparked backlash from Ukrainian President Volodymyr Zelenskiy and US senators.
- Officials clarified the talks focus on allowing "legal oil"—not Russian or Iranian products—to flow on previously sanctioned vessels, noting this "could make a small number of additional tankers available for certain Hormuz shuttle runs" between Iran and Oman.
- Critics, including some Republicans, argue that lifting restrictions aids Russian President Vladimir Putin's war efforts in Ukraine, while companies must seek approval via the Treasury Department to use these vessels.
- Research group Energy Aspects maintains that easing sanctions is "unlikely to add meaningful mainstream fleet capacity overnight" given that most sanctioned tankers are already active, as the administration faces political pressure regarding fuel prices ahead of the November 3 midterm elections.
68 Articles
68 Articles
The administration treats to lighten the measures against the ships that carry fuels from Russia, Iran and Venezuela
Reuters' sources have revealed the details.
The administration of US President Donald Trump is considering the possibility of easing sanctions on the ships of the "shadow fleet", which transport oil and oil derivatives from Russia, Iran and Venezuela, reports Reuters citing informed sources.
President Donald Trump of the United States is considering easing sanctions against the so-called "shadow" fleet of tankers transporting oil from Russia, Iran, and Venezuela in order to lower record freight rates, reported an American official. The Donald Trump administration was discussing the easing of sanctions against vessels of the "shadow fleet" that had previously transported oil and petroleum products from Russia, Iran, and Venezuela, in…
Coverage Details
Bias Distribution
- 44% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
