U.S. Energy Secretary: "Sanctioned Russian Oil Tankers Can Be Converted for Legal Use"

Shipping Disruptions Expected to Persist Even After Sanctioned Tankers Are Converted Into Legitimate Vessels

The Trump Administration is pushing a plan to return tankers that have transported oil from sanctioned countries, including Russia and Iran, to the legitimate crude oil shipping market. The move is seen as an effort to expand shipping capacity by putting sanctioned tankers to use and curb rising energy prices, as oil transportation costs have surged amid the war in Iran.

Chris Wright, U.S. Secretary of Energy. U.S. Department of Energy

According to Bloomberg on October 19, U.S. Energy Secretary Chris Wright said at a Citadel Securities event in New York that private investors were proposing to buy sanctioned tankers that had been taken out of service, refurbish them and deploy them to transport oil not subject to sanctions.

"We are trying to move some of the ships we call the 'bad ship fleet' into the 'good ship' category," Wright said. "These ships will no longer transport sanctioned oil."

He said the Trump Administration was working through an approval process to convert sanctioned tankers into legitimate commercial vessels. He stressed that the process did not simply involve lifting sanctions on tankers that had transported Russian or Iranian oil.

"We are converting tankers in the shadow fleet into legitimate tankers," Wright said. "We are not lifting sanctions."

The shadow fleet refers to vessels that transport oil from Russia, Iran and other countries while evading sanctions imposed by the United States and other Western nations. The Trump Administration is moving to convert sanctioned tankers because shipping rates have surged amid disruptions to maritime oil transport since the war in Iran began.

However, foreign media reported that the return of sanctioned tankers to the market is unlikely to ease shipping disruptions in the short term. Many of the vessels are aging, and they must also go through procedures such as obtaining international insurance and safety certifications.

This content was produced with the assistance of AI translation services.