Middle East Eye on the review of the lifting of sanctions on the "Shadow Fleet" of Russia and Iran by the US: Washington may allow "legal oil" to be moved using previously sanctioned vessels / Sanctioned vessels are sold to non-sanctioned operators and their sanctions are lifted so that they can operate without restrictions

About 15% of the world's shipping fleet is under US sanctions; That too in a situation where sea transportation costs have increased greatly. The United States is considering lifting sanctions on tankers belonging to the Russia-Iran-linked "Shadow Fleet" to curb rising costs, according to multiple media reports and a senior US official.

Middle East Eye wrote: About 15% of the world's shipping fleet is under US sanctions; That too in a situation where sea transportation costs have increased greatly.

According to the report, this article continues: According to several media reports and the statements of a senior American official, the United States is considering lifting sanctions on oil tankers belonging to the "Shadow Fleet" associated with Russia and Iran in order to curb the rising costs.

U.S. Energy Secretary Chris Wright announced in a video message to an energy forum in Riyadh this week that the Donald Trump administration is considering easing sanctions on Shadow Fleet vessels; According to the "Energy Aspects" research group, this action is carried out with the aim of dealing with the unprecedented rates of sea transportation; Rates that have increased the cost of US energy exports abroad.

The Financial Times reported on Thursday that the United States may allow vessels on the sanctions list to be sold to non-sanctioned operators and lift sanctions so they can operate without restrictions.

Ambassador Arjan also reported that the US may allow "legal oil" to be moved using previously sanctioned ships. The measure effectively allows embargoed ships to carry crude oil or petroleum products that are not themselves subject to US sanctions.

Iran's shadow fleet increased its activity on a large scale after the United States unilaterally withdrew from the nuclear deal with Iran and world powers in 2018. The official title of this agreement was "Comprehensive Program of Joint Action" (JCPOA). After withdrawing from the agreement, America imposed heavy sanctions against Iran and specifically targeted the country's oil industry.

The estimate of the Energy Aspects research group shows that about 15% of the world's oil tanker fleet is under US sanctions.

The action of the Trump administration takes place in a situation where the rental rate of oil tankers has increased greatly; A problem that has raised the cost of fuel and made it economically difficult to export American energy to China and Europe. The price of diesel in the United States has increased by nearly 16% in the last month alone.

Gibson Shipbrokers announced earlier this month that the cost of transporting an oil tanker from the US to China is now higher than the cost of launching a rocket into space.

The cost of launching SpaceX's Falcon 9 rocket is 74 million dollars; While the transportation of a very large oil tanker carrying crude oil from the coast of the Gulf of Mexico in the United States to the Far East costs 80 million dollars.

The transportation rate of oil tankers has greatly increased as a result of the war between America and Israel against Iran. This conflict has created a massive imbalance between supply and demand.

The Persian Gulf countries now export more oil and refined products compared to the beginning of the war; But in order to transfer cargo from the Strait of Hormuz to other ships, they rely on transfer services and transfer between oil tankers in order to avoid Iranian attacks.

Oil tankers have also been forced to take longer routes around the Cape of Good Hope in South Africa to avoid Houthi attacks in the Red Sea.

In the middle of the war, the Trump administration has increased the pressure of sanctions against Iran; That too, in a situation where the ceasefire has collapsed and the conflicts over the control of the Strait of Hormuz have resumed. Just this week, Washington imposed new economic sanctions against 16 individuals and 10 entities in Iran.

However, sanctions on the sale of Iranian oil have been imposed in the context of rising prices, and Washington is now trying to curb this upward trend.

Trump's solution has been to cancel sanctions against Russia.

Last week, the US lifted sanctions on Russian diesel fuel. This action has led to a diplomatic crisis with Ukraine.