U.S. Plans to Let Refurbished Sanctioned Tankers Carry Permitted Oil
Photo: TokenPost
The U.S. plans to let some sanctioned oil tankers return to permitted trade after buyers purchase and refurbish them, a move aimed at easing high shipping costs without broadly lifting sanctions. Energy Secretary Chris Wright outlined the approach Oct. 19 at a Citadel Securities event in New York. Investors have proposed acquiring idle vessels, refitting them and using them to carry oil that is not subject to U.S. sanctions. The vessels would need approval before returning to service. “They will not carry sanctioned oil anymore,” Wright said. He rejected removing sanctions from the dark fleet as a whole.
Source: TokenPost
