Trump administration considers easing shadow fleet sanctions
Summarised from 2 outlets · Updated 15 Oct, 22:32 · Archive
The Trump administration is considering easing sanctions on vessels that transport oil from Russia, Iran and Venezuela to reduce global freight rates.
The Trump administration is considering easing sanctions on shadow fleet vessels in an effort to reduce record-high global freight rates, a US official said. The discussions focus on allowing crude or petroleum products not sanctioned by Washington to flow on previously blacklisted vessels, rather than Russian and Iranian oil which remain under punitive measures. The goal is to get more refined products and crude out of the Gulf.
US Energy Secretary Chris Wright told the World Petroleum Congress in Riyadh this week that the administration was discussing easing sanctions on shadow fleet vessels to cut freight rates that have reduced demand for US crude, according to Energy Aspects, a research group. Companies seeking to use the sanctioned vessels would have to apply to the US Treasury Department for permission.
The move comes days after President Donald Trump temporarily lifted sanctions on Russian diesel fuel, drawing criticism from Ukrainian President Volodymyr Zelensky, European countries and some US senators. Zelensky and the senators said the lifting of sanctions on Russian fuel would provide revenue to fund Russia's war in Ukraine.
How it is being reported
- Trump weighs easing restrictions on Russian and Iranian ‘shadow fleet’A White House desperate to lower fuel costs ahead of US midterm elections could allow blacklisted vessels back into global tradeFinancial Times · 15 Oct, 22:10
- US considers easing sanctions on shadow fleet vessels to cut freight rates, official saysThe Trump administration is considering easing sanctions on shadow fleet tankers to lower record global freight rates, a US official says.New York Post · 15 Oct, 11:00
In this story: Trump administration · United States Treasury Department · Russia · Iran · Venezuela · Donald Trump · Volodymyr Zelensky
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