World Petroleum Congress
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Trump administration weighs easing sanctions on shadow-fleet tankers to cut freight rates
The administration of US President Donald Trump is exploring whether to ease sanctions on vessels of the so-called "shadow fleet" that previously carried oil from Russia, Iran, and Venezuela. The stated goal is to bring down record-high global tanker freight rates and boost exports from the Persian Gulf, but companies would still need individual licenses from the US Treasury and would be limited to non-sanctioned "legal oil," according to the US Department of Energy.