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US considers easing sanctions on shadow fleet vessels to cut freight rates, official says
The proposal would let companies seek Treasury approval to move sanctioned vessels carrying non-Russian and non-Iranian cargo, while insurers still face EU and UK rules.
- On Wednesday, a U.S. official confirmed the administration is considering easing sanctions on "shadow fleet" vessels to permit "legal oil" flows, aiming to reduce record-high global freight rates.
- Conflicts in the Persian Gulf have tightened tanker availability, driving freight rates to record highs and dampening demand for U.S. crude, prompting this potential policy shift.
- While companies seeking to use vessels must apply to the U.S. Treasury Department for authorization, Energy Aspects analysts caution the move is "unlikely to add meaningful mainstream fleet capacity overnight."
- Brent crude futures fell below $104 a barrel on Wednesday as crude oil prices retreated from recent highs following the report of potential tanker availability increases.
- Market observers remain cautious about chasing prices higher at current levels, as ongoing geopolitical risks in the Middle East continue to sustain a risk premium in oil markets.
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139 Articles
139 Articles
Container Shipping Would See Little Relief if US Eased Sanctions on ‘Shadow Fleet’ Vessels
In a reported bid to bring down freight rates, the Trump administration is considering easing sanctions on ships that move oil products from countries including Russia, Iran and Venezuela.
·New York, United States
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Brent crude futures were down $1.76, or 1.7 per cent, to $104.3 a barrel.
Trump officials weigh freeing blacklisted tankers to cut record shipping costs
The Trump administration is reportedly weighing whether to let blacklisted tankers haul legal oil as record shipping costs squeeze American crude sales overseas. The administration is discussing […]
·West Palm Beach, United States
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The price of oil reference marks changes in different directions on Thursday evening: Brent is cheaper on expectations of easing the sanctions against the "shadow fleet", while WTI values the persistence of tension in the Middle East.
Coverage Details
Total News Sources139
Leaning Left12Leaning Right17Center17Last UpdatedBias Distribution37% Center, 37% Right
Bias Distribution
- 37% of the sources are Center, 37% of the sources lean Right
37% Right
L 26%
C 37%
R 37%
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