Washington prepares changes to sanctions on shadow fleet tankers to lower freight costs

Initiative to reduce shipping costs

The US government is considering easing sanctions pressure on tankers that are part of the so-called shadow fleet. The primary goal of these steps is to overcome record-high freight prices. This concerns vessels previously used to transport oil from Russia, Iran, and Venezuela.

The essence of the proposal lies in granting permission to sanctioned vessels to transport so-called "legal oil". This means that tankers will be able to transport raw materials and petroleum products against which Washington has not introduced restrictive measures, i.e., non-Russian and non-Iranian products.

Procedure and objectives for companies

Businesses intending to charter such tankers are required to submit a corresponding application to the US Department of the Treasury. The main objective of this initiative is to increase the volume of oil and fuel exports from the Persian Gulf region.

Details of these discussions were revealed by US Energy Secretary Chris Wright during a video address to participants of the World Petroleum Congress, which was held in Riyadh.

Position on Russian exports

The US Department of Energy assures that the planned easing of sanctions will not create opportunities for Russia to sell its oil or petroleum products in international markets.

Meanwhile, according to Reuters data, President Donald Trump seeks to accelerate the entry of Russian diesel fuel into the global market. This may be the reason why the relevant authorities will allow the use of shadow fleet vessels for these purposes.