The administration of US President Donald Trump is considering a potential relaxation of sanctions against Russia’s “shadow fleet” in an effort to reduce freight rates and boost oil transport from the Persian Gulf.
Sea-news.az reports citing Reuters, officials are discussing allowing sanctioned vessels to carry “legal crude” and petroleum products that are not subject to US sanctions, excluding Russian and Iranian oil.
Companies seeking to utilize these ships would be required to obtain authorization from the US Department of the Treasury. The US Department of Energy noted that easing restrictions would not grant Russia the ability to ship its own oil. Maritime sources add that given ongoing EU and UK insurance restrictions, the move is unlikely to cause a major drop in global freight rates.
