🇺🇸🇷🇺🇮🇷🇻🇪⚡️ — The Trump administration is considering easing sanctions on vessels belonging to the so-called shadow fleet, previously used to transport oil from Russia, Iran and Venezuela, in an effort to reduce record-high global shipping costs, according to Reuters.

The proposal would allow previously sanctioned vessels to transport oil and petroleum products that are not themselves subject to U.S. sanctions.

Companies would need authorization from the U.S. Treasury Department before using the ships, with the administration aiming to increase oil shipments from the Gulf and lower freight rates.

U.S. officials insist the proposed exemptions would not permit sanctioned Russian or Iranian oil shipments. However, maritime industry sources warned that the impact on shipping costs could be limited because insurers would remain subject to European Union and British sanctions.