20 Hrs
Source:
الاقتصادية
Legal Challenges in Recommissioning Shadow Fleet Ships
The article discusses the efforts of the American administration to relaunch the so-called "shadow fleet" of oil tankers currently under sanctions in order to boost oil supplies. These efforts come amidst measures to contain the rising prices of oil and fuel, which have been exacerbated by tensions in the Gulf and the Ukraine-Russia crisis. The U.S. government has proposed selling vessels listed on sanctions lists and legally reintroducing them into the market without lifting the sanctions, aiming to enhance refining capacity. However, this plan faces obstacles such as a limited number of suitable ships, logistical challenges, and the fact that most of the tankers are relatively old, reducing their effectiveness. Additionally, financial incentives are not strong enough, and restrictions related to insurance and vessel age significantly hinder the implementation of this initiative. Meanwhile, the price of a barrel of oil remains near its highest level in five months.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)