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US begins authorising sale of sanctioned oil tankers to approved investors
The Trump administration has started allowing sanctioned oil tankers to be sold to approved investors who must refurbish the vessels before returning them to legitimate crude trades, as freight costs rise amid the Hormuz crisis.
The Trump administration has begun authorising the sale of sanctioned oil tankers to approved investors, US Energy Secretary Chris Wright said on Monday. The report states that buyers must refurbish the vessels before they can return to legitimate crude trades.
Washington is seeking to contain soaring freight costs during the Hormuz crisis. The report also says attacks continued in the region; the supplied text ends at a reference to traffic.
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