US Energy Secretary says administration discussing easing sanctions on shadow fleet vessels to cut record-high freight rates

US Energy Secretary Chris Wright said the Trump administration is discussing easing sanctions on shadow fleet vessels that have transported oil from Russia, Iran and Venezuela to reduce record-high global freight rates that have driven up costs of shipping American energy abroad. Companies would apply to the Treasury to use sanctioned vessels, with talks focused on allowing legal oil on previously sanctioned vessels.

Detected & updated continuously · Source: Nebula