The U.S. Is Helping Bring Dozens, Perhaps Hundreds, of “Shadow Fleet” Tankers Back Into Legal Trade
The Donald Trump administration is helping return dozens, or even hundreds, of tankers associated with the “shadow fleet” to legitimate commercial use, U.S. Energy Secretary Chris Wright told Bloomberg.
According to him, U.S. authorities are working with investors who buy idle sanctioned vessels, refurbish them and then use them to transport oil that is not subject to restrictions.
Wright stressed that the sanctions are not being lifted.
“There is no sanctions relief taking place. We are going to move some of the vessels from what I call the ‘bad guys’ fleet’ into the ‘good guys’ fleet.’ They will no longer be carrying sanctioned oil,” he said.
U.S. Authorities Collaborate with Investors
U.S. authorities are working closely with investors who purchase idle sanctioned tankers, refurbish them, and then use them to transport non-sanctioned oil. This move aims to bring the vessels back into legal trade, while ensuring that sanctions remain in place for restricted oil.
The collaboration between U.S. authorities and investors is seen as a significant step towards normalizing the global oil market. By bringing these tankers back into legitimate commercial use, the U.S. is helping to reduce the impact of the “shadow fleet” on global energy supplies.
Refurbishing Sanctioned Vessels
The refurbishment process for these sanctioned vessels involves a range of activities, including repairs, maintenance, and upgrades. This ensures that the tankers meet international safety and environmental standards before they are allowed to return to service.
According to Wright, the refurbished vessels will no longer be carrying sanctioned oil, thereby complying with U.S. sanctions. The move is seen as a key step towards normalizing the global oil market and reducing tensions between countries.
Implications for Global Energy Supplies
The return of these tankers to legal trade has significant implications for global energy supplies. By bringing more vessels into service, the U.S. is helping to increase the availability of oil on the global market, which could help to reduce prices and stabilize supply chains.
However, the move also raises concerns about the potential impact on sanctioned countries, which may see their ability to access international oil markets reduced further. The situation highlights the complex interplay between energy policy, sanctions, and global trade.
Original Article: The U.S. Is Helping Bring Dozens, Perhaps Hundreds, of “Shadow Fleet” Tankers Back Into Legal Trade — Sfg