Trump May Ease Sanctions Against Russia's "Shadow Fleet"

Sources at Reuters have revealed the details.

The administration of U.S. President Donald Trump is considering easing sanctions against “shadow fleet” vessels that transport oil and petroleum products from Russia, Iran, and Venezuela, according to Reuters sources familiar with the matter. According to them, the authorization pertains to the transport of “legal” fuel, not Russian or Iranian oil, which is subject to restrictions. The goal is to lower freight rates and export more crude oil and petroleum products from the Persian Gulf.

Companies wishing to use sanctioned vessels will need to apply to the U.S. Treasury Department for authorization, one of the sources told Reuters. The easing of restrictions “could free up a small number of additional tankers for shuttle runs” through the Strait of Hormuz, but this is unlikely to lead to a widespread decline in freight rates, as insurers will still be required to comply with EU and U.K. regulations, shipping industry sources told Reuters. The U.S. Department of Energy has assured that any steps to ease sanctions on the “shadow fleet” will not help Russia transport oil or petroleum products.

High fuel prices pose a risk for Trump in the Nov. 3 midterm elections, in which Republicans hope to retain control of both chambers of Congress, Reuters notes. Earlier, the White House lifted sanctions on Russian diesel fuel and authorized its supply to the U.S. market until April 7. This move sparked a wave of criticism from some Republicans in the U.S. Senate, European leaders, and Ukrainian President Volodymyr Zelenskyy.

This past spring, against the backdrop of the war in Iran and the blockade of the Strait of Hormuz, the U.S. exempted a portion of Russian oil and petroleum product shipments from sanctions. At the time, the Kremlin stated that without “significant volumes” of oil from Russia, stabilizing the global market would be “impossible.” Vladimir Putin asserted that attempts to damage the Russian oil fleet “will lead to widespread problems, and first and foremost for those who tried to, excuse me, screw us over.”

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