1 Day
Source:
New York Post
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US may relax sanctions on shadow fleet vessels
The Trump administration is considering easing sanctions on shadow fleet vessels that transport oil and petroleum products from countries including Russia, Iran, and Venezuela, to lower record-high global freight rates. Discussions focus on permitting "legal oil" to flow on previously sanctioned vessels to facilitate the export of crude and refined products from the Gulf, which could impact global oil movement without directly easing sanctions on Russian or Iranian oil. This move aims to reduce freight costs that have surged due to global conflicts, though officials emphasize it would not significantly increase overall shipping capacity or benefit sanctioned countries directly.
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