The administration of U.S. President Donald Trump is discussing a partial easing of sanctions on the “shadow fleet” of tankers that transport oil from countries such as Russia, Iran, and Venezuela, Reuters reported.
The White House believes the move would lower freight rates for oil tankers, which are at record highs, allowing more oil and oil products to move out of the Persian Gulf.
The move would involve partially lifting restrictions on “shadow fleet” tankers carrying “legal oil,” a government source told Reuters. Those seeking to use “shadow fleet” vessels for that purpose would need permission from the U.S. Treasury Department.
The White House did not respond to Reuters’ request for comment.
Experts polled by the agency said partially lifting sanctions on “shadow fleet” vessels is unlikely to lower freight rates. Insurance companies, they said, will still have to comply with EU and U.K. law, which is not expected to ease restrictions on the “shadow fleet.”
Donald Trump announced on October 9 that Russia and the U.S. had agreed to the supply of Russian diesel fuel to American and global markets. U.S. sanctions on diesel from Russia have been partially lifted.
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