U.S. Energy Secretary Wright said the Trump administration is pushing to
reclassify some sanctioned tankers via an approval process so they can operate
as compliant vessels. Investors plan to buy idle tankers and refurbish them to
transport crude not subject to sanctions. Wright emphasized this is not a lift
of sanctions on ships carrying Russian, Iranian or other sanctioned crude; the
aim is to bring those vessels into legal operation and ensure they no longer
transport sanctioned oil. He estimated the global sanctioned shadow fleet at
about 1,600 vessels and said the plan could add tens or even hundreds of legally
operating tanks.
