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The Economic Times
The Economic Times
National

US considers removing sanctions on some shadow fleet vessels to cut freight rates, official says

Sanctions United States Oil Donald Trump Department of Energy Volodymyr Zelenksyy Energy Aspects Inflation US Treasury Department

Washington: The Trump administration is considering lifting sanctions on some so-called shadow fleet vessels that have transported oil and petroleum products from countries including Russia, Iran and Venezuela, in an effort to reduce record-high global freight rates, a US official said on Wednesday.

The discussions come days after President Donald Trump temporarily lifted sanctions on Russian diesel fuel, a move met with a torrent of criticism from Ukrainian President Volodymyr Zelenskiy, European countries and some of Trump's fellow Republicans in the US Senate.

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